National Asset Management Inc. lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 16.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 836 shares of the asset manager’s stock after purchasing an additional 120 shares during the period. National Asset Management Inc.’s holdings in BlackRock were worth $354,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Financial Architects Inc increased its stake in shares of BlackRock by 0.7% during the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after purchasing an additional 2 shares during the last quarter. Davis R M Inc. increased its stake in shares of BlackRock by 0.4% during the 2nd quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after purchasing an additional 2 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of BlackRock by 1.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after purchasing an additional 3 shares during the last quarter. ZWJ Investment Counsel Inc. increased its stake in shares of BlackRock by 0.4% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock worth $291,000 after purchasing an additional 3 shares during the last quarter. Finally, Wayne Hummer Investments L.L.C. increased its stake in shares of BlackRock by 0.3% during the 2nd quarter. Wayne Hummer Investments L.L.C. now owns 1,059 shares of the asset manager’s stock worth $447,000 after purchasing an additional 3 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

In other BlackRock news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total value of $48,158.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,547 shares of company stock valued at $2,382,163. 1.86% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on BLK. Wells Fargo & Company restated a “market perform” rating and set a $475.00 price objective (up from $450.00) on shares of BlackRock in a research note on Thursday. J P Morgan Chase & Co boosted their price objective on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Group LLC restated a “hold” rating and set a $465.00 price objective on shares of BlackRock in a research note on Thursday. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price objective on shares of BlackRock in a research note on Thursday. Finally, Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Thursday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $478.50.

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Shares of BlackRock, Inc. (BLK) traded down 1.06% during mid-day trading on Friday, hitting $475.49. 639,780 shares of the stock were exchanged. The stock has a market capitalization of $76.84 billion, a price-to-earnings ratio of 22.27 and a beta of 1.72. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $485.23. The stock’s 50-day moving average is $437.85 and its 200-day moving average is $415.88.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. BlackRock’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.14 earnings per share. Analysts forecast that BlackRock, Inc. will post $22.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were paid a dividend of $2.50 per share. The ex-dividend date was Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.10%. BlackRock’s dividend payout ratio is currently 46.82%.

BlackRock Profile

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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