Pictet Asset Management Ltd. Reduces Position in BlackRock, Inc. (BLK)
Pictet Asset Management Ltd. decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,039 shares of the asset manager’s stock after selling 1,730 shares during the period. Pictet Asset Management Ltd. owned 0.06% of BlackRock worth $39,303,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of BLK. Mycio Wealth Partners LLC bought a new stake in BlackRock during the first quarter valued at $273,000. ProShare Advisors LLC raised its stake in BlackRock by 3.4% in the first quarter. ProShare Advisors LLC now owns 28,051 shares of the asset manager’s stock valued at $10,758,000 after buying an additional 931 shares in the last quarter. Profund Advisors LLC raised its stake in BlackRock by 2.6% in the first quarter. Profund Advisors LLC now owns 4,013 shares of the asset manager’s stock valued at $1,539,000 after buying an additional 101 shares in the last quarter. Fisher Asset Management LLC raised its stake in BlackRock by 44.1% in the first quarter. Fisher Asset Management LLC now owns 108,774 shares of the asset manager’s stock valued at $41,716,000 after buying an additional 33,283 shares in the last quarter. Finally, Harwood Advisory Group LLC raised its stake in BlackRock by 9.9% in the first quarter. Harwood Advisory Group LLC now owns 5,043 shares of the asset manager’s stock valued at $1,934,000 after buying an additional 454 shares in the last quarter. 82.76% of the stock is owned by hedge funds and other institutional investors.
Shares of BlackRock, Inc. (NYSE:BLK) opened at 414.34 on Tuesday. The stock has a 50 day moving average price of $426.79 and a 200-day moving average price of $402.77. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.83. The stock has a market cap of $67.21 billion, a price-to-earnings ratio of 19.89 and a beta of 1.71.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 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 return on equity of 11.74% and a net margin of 29.92%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.78 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders 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 yield of 2.41%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is 47.98%.
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Several equities research analysts have recently weighed in on BLK shares. Deutsche Bank AG reissued a “buy” rating and set a $455.00 price objective (down from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective for the company in a research note on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. BidaskClub lowered BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $387.00 price objective on shares of BlackRock in a research note on Wednesday, May 17th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. BlackRock currently has an average rating of “Buy” and an average price target of $443.00.
In other BlackRock news, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction 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 sale, the director now directly 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 is available at the SEC website. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Insiders sold 3,272 shares of company stock valued at $1,364,526 over the last 90 days. Corporate 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.
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