BlackRock, Inc. (NYSE:BLK) Stake Increased by Heritage Investors Management Corp
Heritage Investors Management Corp raised its position in BlackRock, Inc. (NYSE:BLK) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 27,280 shares of the asset manager’s stock after buying an additional 180 shares during the period. Heritage Investors Management Corp’s holdings in BlackRock were worth $11,523,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its stake in 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 last quarter. Kings Point Capital Management boosted its stake in 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 last quarter. State of Alaska Department of Revenue acquired a new stake in BlackRock during the first quarter worth approximately $108,000. Peoples Financial Services CORP. acquired a new stake in BlackRock during the first quarter worth approximately $115,000. Finally, Twin Tree Management LP boosted its stake in BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock worth $132,000 after buying an additional 1,443 shares during the last quarter. Institutional investors own 80.37% of the company’s stock.
BlackRock, Inc. (NYSE BLK) traded up 0.35% on Friday, reaching $424.16. The company’s stock had a trading volume of 807,059 shares. The stock has a 50-day moving average of $428.03 and a 200-day moving average of $399.68. The stock has a market cap of $68.80 billion, a P/E ratio of 20.36 and a beta of 1.71. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the consensus estimate of $5.39 by $0.15. BlackRock had a return on equity of 11.71% and a net margin of 29.24%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business earned $4.78 EPS. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is presently 47.98%.
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A number of research firms have recently commented on BLK. BidaskClub cut BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Deutsche Bank AG reiterated a “buy” rating and set a $455.00 target price (down from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Jefferies Group LLC reiterated a “hold” rating and set a $387.00 target price on shares of BlackRock in a research note on Wednesday, May 17th. Zacks Investment Research cut BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $534.00 target price on shares of BlackRock in a research note on Tuesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and an average price target of $434.93.
In other BlackRock news, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. 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 in the last 90 days. 1.86% of the stock is currently owned by company insiders.
BlackRock Company 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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