Capstone Asset Management Co. Reduces Stake in BlackRock, Inc. (BLK)
Capstone Asset Management Co. decreased its position in BlackRock, Inc. (NYSE:BLK) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,538 shares of the asset manager’s stock after selling 1,218 shares during the period. Capstone Asset Management Co.’s holdings in BlackRock were worth $5,719,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital One National Association boosted 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 during the period. Stock Yards Bank & Trust Co. boosted its stake in shares of BlackRock by 1.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 39,348 shares of the asset manager’s stock valued at $16,621,000 after buying an additional 693 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of BlackRock during the second quarter valued at about $507,000. Stillwater Capital Advisors LLC boosted its stake in shares of BlackRock by 0.9% in the second quarter. Stillwater Capital Advisors LLC now owns 32,284 shares of the asset manager’s stock valued at $13,637,000 after buying an additional 288 shares during the last quarter. Finally, Catawba Capital Management VA bought a new stake in shares of BlackRock during the second quarter valued at about $264,000. Institutional investors own 80.37% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) traded up 0.6117% during mid-day trading on Friday, reaching $425.2754. The company’s stock had a trading volume of 305,163 shares. The stock has a market capitalization of $68.98 billion, a P/E ratio of 20.4126 and a beta of 1.71. The stock’s 50 day moving average price is $428.00 and its 200 day moving average price is $399.35. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84.
BlackRock (NYSE:BLK) last issued its 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. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.78 EPS. Analysts expect that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be paid a $2.50 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.37%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
ILLEGAL ACTIVITY NOTICE: This report was first reported by Watch List News and is the property of of Watch List News. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.watchlistnews.com/capstone-asset-management-co-reduces-stake-in-blackrock-inc-blk/1475763.html.
BLK has been the topic of several analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $441.00 price objective (down from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $460.00 price objective (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $425.00 price objective (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock has an average rating of “Buy” and a consensus price target of $434.93.
In other news, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction dated 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 owns 484,386 shares in the company, valued at approximately $200,685,963.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 3,772 shares of company stock worth $1,567,516. Company insiders own 1.86% of the company’s stock.
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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.