Rhumbline Advisers Acquires 979 Shares of BlackRock, Inc. (BLK)
Rhumbline Advisers raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 231,580 shares of the asset manager’s stock after buying an additional 979 shares during the period. Rhumbline Advisers owned 0.14% of BlackRock worth $97,822,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after buying an additional 250,431 shares during the last quarter. BlackRock Inc. raised its position in BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after buying an additional 6,314,004 shares during the last quarter. State Street Corp raised its position in BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after buying an additional 112,993 shares during the last quarter. Wells Fargo & Company MN raised its position in BlackRock by 4.1% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock valued at $782,896,000 after buying an additional 80,433 shares during the last quarter. Finally, UBS Group AG raised its position in BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after buying an additional 486,502 shares during the last quarter. 82.76% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (BLK) opened at 419.01 on Friday. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84. The firm has a market cap of $67.97 billion, a PE ratio of 20.11 and a beta of 1.71. The company has a 50-day moving average of $424.78 and a 200 day moving average of $403.85.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.78 EPS. On average, equities research analysts expect 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 2.39%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is presently 47.98%.
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Several research analysts have recently commented on BLK shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research raised shares of 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. Deutsche Bank AG raised their price objective on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. BlackRock has a consensus rating of “Buy” and an average target price of $443.00.
In other BlackRock news, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.86% of the stock is 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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