Boyd Watterson Asset Management LLC OH Decreases Stake in BlackRock, Inc. (BLK)
Boyd Watterson Asset Management LLC OH lowered its stake in BlackRock, Inc. (NYSE:BLK) by 61.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 920 shares of the asset manager’s stock after selling 1,464 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in BlackRock were worth $389,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of 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 valued at $103,000 after buying an additional 85 shares in 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 valued at $105,000 after buying an additional 70 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in BlackRock during the first quarter valued at approximately $108,000. 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 valued at $132,000 after buying an additional 1,443 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its stake in BlackRock by 70.2% in the second quarter. NEXT Financial Group Inc now owns 388 shares of the asset manager’s stock valued at $164,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 80.33% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) traded down 0.81% during trading on Friday, reaching $416.55. 1,015,041 shares of the company were exchanged. The stock has a market capitalization of $67.57 billion, a price-to-earnings ratio of 19.99 and a beta of 1.71. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84. The company has a 50 day moving average price of $428.07 and a 200-day moving average price of $401.25.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm earned $4.78 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post $21.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.40%. BlackRock’s payout ratio is currently 47.98%.
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BLK has been the subject of a number of analyst reports. 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. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research note on Tuesday, June 20th. Deutsche Bank AG lifted their target price on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $425.00 target price (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $443.00.
In other BlackRock news, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 484,386 shares in the company, valued at $200,685,963.66. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock worth $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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