Guinness Asset Management Ltd Maintains Stake in BlackRock, Inc. (NYSE:BLK)
Guinness Asset Management Ltd held its position in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 560 shares of the asset manager’s stock at the end of the second quarter. Guinness Asset Management Ltd’s holdings in BlackRock were worth $237,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha Windward LLC raised its position in BlackRock by 0.6% in the first quarter. Alpha Windward LLC now owns 487 shares of the asset manager’s stock valued at $187,000 after buying an additional 3 shares during the last quarter. Eqis Capital Management Inc. raised its position in BlackRock by 0.5% in the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock valued at $233,000 after buying an additional 3 shares during the last quarter. National Asset Management Inc. raised its position in BlackRock by 0.4% in the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after buying an additional 3 shares during the last quarter. JNBA Financial Advisors raised its position in BlackRock by 0.4% in the first quarter. JNBA Financial Advisors now owns 910 shares of the asset manager’s stock valued at $349,000 after buying an additional 4 shares during the last quarter. Finally, Keel Point LLC raised its position in BlackRock by 0.9% in the first quarter. Keel Point LLC now owns 797 shares of the asset manager’s stock valued at $306,000 after buying an additional 7 shares during the last quarter. 80.37% of the stock is currently owned by institutional investors and hedge funds.
BlackRock, Inc. (NYSE:BLK) traded down 1.30% during mid-day trading on Thursday, hitting $425.75. 136,336 shares of the stock were exchanged. The stock has a 50 day moving average price of $427.95 and a 200 day moving average price of $399.18. The company has a market capitalization of $69.06 billion, a PE ratio of 20.44 and a beta of 1.71. 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. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the business earned $4.78 earnings per share. BlackRock’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
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Several analysts have commented on BLK shares. Bank of America Corporation restated a “buy” rating and set a $450.00 target price on shares of BlackRock in a report on Monday, June 19th. Morgan Stanley restated an “overweight” rating and set a $476.00 target price (up from $460.00) on shares of BlackRock in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a report on Tuesday, June 20th. Deutsche Bank AG raised their target price on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “hold” rating and set a $387.00 target price on shares of BlackRock in a report on Wednesday, May 17th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $434.93.
In related news, Director Susan Wagner sold 2,500 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the transaction, the director now directly 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 available through the SEC website. Also, 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 value of $202,990.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,772 shares of company stock worth $1,567,516. 1.86% of the stock is 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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