Middleton & Co Inc MA Increases Position in BlackRock, Inc. (NYSE:BLK)
Middleton & Co Inc MA boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 22.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,201 shares of the asset manager’s stock after buying an additional 2,023 shares during the period. Middleton & Co Inc MA’s holdings in BlackRock were worth $4,731,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of BlackRock by 51.0% in the fourth quarter. AQR Capital Management LLC now owns 13,419 shares of the asset manager’s stock valued at $5,106,000 after buying an additional 4,530 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $3,923,000. Ibex Wealth Advisors purchased a new stake in shares of BlackRock during the fourth quarter valued at approximately $796,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of BlackRock by 95.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,140 shares of the asset manager’s stock valued at $16,417,000 after buying an additional 21,075 shares during the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in BlackRock during the fourth quarter worth approximately $291,000. Institutional investors own 80.85% of the company’s stock.
BlackRock, Inc. (NYSE BLK) traded up 0.24% on Wednesday, reaching $427.91. 70,306 shares of the company’s stock traded hands. The firm has a market capitalization of $69.69 billion, a PE ratio of 20.54 and a beta of 1.71. The firm’s 50 day moving average price is $423.03 and its 200 day moving average price is $394.04. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $4.78 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post $21.90 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Monday, June 5th were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, June 1st. BlackRock’s payout ratio is presently 47.98%.
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A number of research analysts recently commented on BLK shares. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG reiterated a “buy” rating and set a $441.00 price objective (down previously from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. Morgan Stanley reiterated an “overweight” rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company currently 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 that occurred 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 completion of the transaction, the director now owns 484,386 shares in the company, valued at $200,685,963.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction that occurred on 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. 1.86% of the stock is currently owned by corporate 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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