BlackRock, Inc. (BLK) Stake Maintained by E&G Advisors LP
E&G Advisors LP continued to hold its position in shares of BlackRock, Inc. (NYSE:BLK) during the second quarter, Holdings Channel reports. The institutional investor owned 2,400 shares of the asset manager’s stock at the end of the second quarter. E&G Advisors LP’s holdings in BlackRock were worth $1,014,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC boosted its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the period. Kings Point Capital Management boosted its stake in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of BlackRock during the first quarter worth $108,000. Peoples Financial Services CORP. acquired a new stake in shares of BlackRock during the first quarter worth $115,000. Finally, Financial Architects Inc boosted its stake in shares of BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after buying an additional 2 shares during the period. Institutional investors own 80.37% of the company’s stock.
BlackRock, Inc. (BLK) traded up 0.65% on Friday, reaching $425.45. 354,169 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $428.00 and a 200 day moving average price of $399.35. The stock has a market cap of $69.01 billion, a price-to-earnings ratio of 20.42 and a beta of 1.71. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84.
BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the firm earned $4.78 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post $21.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
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A number of equities research analysts have weighed in on BLK shares. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $441.00 target price (down previously from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research note on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $434.93.
In related news, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Mccombe sold 500 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,772 shares of company stock valued at $1,567,516. Company insiders own 1.86% of the company’s stock.
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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