Capital World Investors Has $3 Billion Stake in BlackRock, Inc. (BLK)
Capital World Investors grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,105,319 shares of the asset manager’s stock after purchasing an additional 810,667 shares during the quarter. Capital World Investors owned approximately 4.38% of BlackRock worth $3,001,358,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the company. Everett Harris & Co. CA lifted its stake in BlackRock by 9.2% in the second quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after acquiring an additional 8,478 shares during the period. Stifel Financial Corp lifted its stake in BlackRock by 19.1% in the first quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after acquiring an additional 27,321 shares during the period. Canada Pension Plan Investment Board lifted its stake in BlackRock by 48.9% in the second quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after acquiring an additional 33,400 shares during the period. Blue Chip Partners Inc. lifted its stake in BlackRock by 8.5% in the second quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock worth $5,677,000 after acquiring an additional 1,055 shares during the period. Finally, KBC Group NV lifted its stake in BlackRock by 35.1% in the first quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after acquiring an additional 13,065 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.
In other BlackRock news, insider Jeff A. Smith sold 522 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total value of $220,033.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Insiders sold a total of 4,447 shares of company stock valued at $1,855,015 over the last quarter. Company insiders own 1.86% of the company’s stock.
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A number of analysts recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $460.00 price target (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $455.00 price target (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $460.08.
BlackRock, Inc. (NYSE BLK) opened at 463.22 on Friday. The stock’s 50 day moving average price is $429.51 and its 200 day moving average price is $412.18. BlackRock, Inc. has a one year low of $336.84 and a one year high of $465.87. The company has a market capitalization of $75.14 billion, a P/E ratio of 22.23 and a beta of 1.72.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the company posted $4.78 earnings per share. BlackRock’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post $21.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Thursday, August 31st. BlackRock’s dividend payout ratio is 47.98%.
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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