Rathbone Brothers plc Continues to Hold Position in BlackRock, Inc. (BLK)
Rathbone Brothers plc maintained its stake in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 582 shares of the asset manager’s stock at the end of the 2nd quarter. Rathbone Brothers plc’s holdings in BlackRock were worth $246,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Enterprise Financial Services Corp boosted its position in BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in BlackRock in the second quarter valued at approximately $104,000. Proficio Capital Partners LLC boosted its position in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares in the last quarter. Kings Point Capital Management boosted its position in BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares in the last quarter. Finally, Financial Architects Inc boosted its position in BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after buying an additional 2 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the stock in a transaction on Wednesday, July 26th. The shares were 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 have sold a total of 4,447 shares of company stock valued at $1,855,015 in the last three months. 1.86% of the stock is currently owned by corporate insiders.
BlackRock, Inc. (NYSE BLK) opened at 433.63 on Friday. The company has a market cap of $70.34 billion, a P/E ratio of 20.81 and a beta of 1.71. The company’s 50-day moving average is $422.45 and its 200-day moving average is $406.87. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by ($0.15). The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.78 EPS. On average, analysts anticipate that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.31%. BlackRock’s payout ratio is currently 47.98%.
A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods restated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research report on Friday, July 14th. Morgan Stanley restated an “overweight” rating and issued a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Wells Fargo & Company restated a “market perform” rating and issued a $425.00 target price (up previously from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Deutsche Bank AG raised their target price on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Finally, 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 research report on Tuesday, June 20th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $449.08.
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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