NorthCoast Asset Management LLC trimmed its position in BlackRock, Inc. (NYSE:BLK) by 65.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,819 shares of the asset manager’s stock after selling 3,382 shares during the quarter. NorthCoast Asset Management LLC’s holdings in BlackRock were worth $1,597,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Moser Wealth Advisors LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at approximately $26,000. Atlas Private Wealth Advisors increased its holdings in shares of BlackRock by 130.8% in the 2nd quarter. Atlas Private Wealth Advisors now owns 30 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 17 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in BlackRock during the 2nd quarter worth $31,000. KB Financial Partners LLC bought a new position in BlackRock during the 1st quarter worth $35,000. Finally, Clean Yield Group bought a new position in BlackRock during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 78.13% of the company’s stock.
In other news, Director Mark Wiedman sold 175 shares of BlackRock stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $884.50, for a total transaction of $154,787.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Christopher J. Meade sold 2,106 shares of BlackRock stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total transaction of $1,847,467.44. The disclosure for this sale can be found here. 1.16% of the stock is owned by corporate insiders.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, July 13th. The asset manager reported $10.03 earnings per share for the quarter, topping analysts’ consensus estimates of $9.33 by $0.70. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.61 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The business’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.85 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post 38.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th will be given a dividend of $4.13 per share. The ex-dividend date is Friday, September 3rd. This represents a $16.52 dividend on an annualized basis and a yield of 1.95%. BlackRock’s dividend payout ratio (DPR) is currently 48.85%.
Several brokerages have recently weighed in on BLK. Argus upped their price objective on BlackRock from $950.00 to $975.00 and gave the company a “buy” rating in a report on Thursday, July 15th. UBS Group upped their price target on BlackRock from $890.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, July 8th. BMO Capital Markets upped their target price on BlackRock from $773.00 to $803.00 and gave the stock a “market perform” rating in a research report on Thursday, July 15th. Jefferies Financial Group upped their target price on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a research report on Tuesday, August 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on BlackRock from $1,018.00 to $1,001.00 and set a “buy” rating for the company in a research note on Thursday, July 15th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, BlackRock has a consensus rating of “Buy” and a consensus target price of $953.31.
BlackRock Company Profile
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
See Also: Call Option
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.