Capital Investment Advisors LLC Has $3.93 Million Stake in BlackRock, Inc. (NYSE:BLK)
Capital Investment Advisors LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 347.4% during the second quarter, Holdings Channel reports. The institutional investor owned 9,306 shares of the asset manager’s stock after buying an additional 7,226 shares during the period. Capital Investment Advisors LLC’s holdings in BlackRock were worth $3,931,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Heritage Investors Management Corp increased its position in BlackRock by 0.7% in the second quarter. Heritage Investors Management Corp now owns 27,280 shares of the asset manager’s stock worth $11,523,000 after buying an additional 180 shares in the last quarter. Atria Investments LLC increased its position in BlackRock by 14.5% in the second quarter. Atria Investments LLC now owns 4,757 shares of the asset manager’s stock worth $2,009,000 after buying an additional 602 shares in the last quarter. Country Club Trust Company n.a. purchased a new position in BlackRock during the second quarter worth about $206,000. Perkins Coie Trust Co increased its position in BlackRock by 2.5% in the second quarter. Perkins Coie Trust Co now owns 5,745 shares of the asset manager’s stock worth $2,427,000 after buying an additional 139 shares in the last quarter. Finally, Capital One National Association increased its position in BlackRock by 5.2% in the second quarter. Capital One National Association now owns 7,137 shares of the asset manager’s stock worth $3,014,000 after buying an additional 352 shares in the last quarter. 80.37% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE:BLK) traded up 0.35% during midday trading on Friday, hitting $424.16. The stock had a trading volume of 807,059 shares. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84. The firm has a market cap of $68.80 billion, a price-to-earnings ratio of 20.36 and a beta of 1.71. The firm has a 50 day moving average of $428.03 and a 200 day moving average of $399.68.
BlackRock (NYSE:BLK) last released 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 net margin of 29.24% and a return on equity of 11.71%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the business earned $4.78 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that BlackRock, Inc. will post $21.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.36%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
A number of equities analysts have issued reports on the stock. BidaskClub downgraded shares of BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $476.00 price objective (up from $460.00) on shares of BlackRock in a report on Tuesday, July 18th. Deutsche Bank AG reaffirmed a “buy” rating and set a $455.00 price objective (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $534.00 price objective on shares of BlackRock in a report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $434.93.
In related news, insider Mark Mccombe sold 500 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Wagner sold 2,500 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the sale, the director now directly 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 ninety days. 1.86% of the stock is currently owned by 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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