BlackRock, Inc. (NYSE:BLK) Shares Bought by Perkins Coie Trust Co
Perkins Coie Trust Co raised its position in BlackRock, Inc. (NYSE:BLK) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,745 shares of the asset manager’s stock after buying an additional 139 shares during the period. BlackRock accounts for about 1.3% of Perkins Coie Trust Co’s portfolio, making the stock its 26th largest position. Perkins Coie Trust Co’s holdings in BlackRock were worth $2,427,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares during the last quarter. UBS Group AG raised its stake in shares of BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after buying an additional 486,502 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after buying an additional 250,431 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock worth $597,206,000 after buying an additional 118,222 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of BlackRock by 134.9% in the first quarter. Renaissance Technologies LLC now owns 199,968 shares of the asset manager’s stock worth $76,690,000 after buying an additional 114,854 shares during the last quarter. 80.37% of the stock is owned by institutional investors.
Shares of BlackRock, Inc. (BLK) traded up 0.6117% during trading on Friday, hitting $425.2754. The stock had a trading volume of 305,236 shares. The company has a market cap of $68.98 billion, a P/E ratio of 20.4126 and a beta of 1.71. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84. The stock has a 50-day moving average price of $428.00 and a 200 day moving average price of $399.35.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $4.78 earnings per share. Equities analysts expect that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
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Several equities analysts have commented on BLK shares. Deutsche Bank AG reissued a “buy” rating and set a $441.00 price objective (down previously from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Bank of America Corporation reissued a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research report on Monday, June 19th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $434.93.
In related news, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total transaction of $108,717.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the sale, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. Insiders have sold a total of 3,772 shares of company stock valued at $1,567,516 over the last 90 days. 1.86% of the stock is currently owned by company insiders.
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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