Riverhead Capital Management LLC Has $1.07 Million Stake in BlackRock, Inc. (BLK)
Riverhead Capital Management LLC lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,534 shares of the asset manager’s stock after purchasing an additional 227 shares during the period. Riverhead Capital Management LLC’s holdings in BlackRock were worth $1,070,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Enterprise Financial Services Corp raised its stake in shares of BlackRock by 52.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of BlackRock during the 2nd quarter worth approximately $104,000. Proficio Capital Partners LLC raised its stake in shares of BlackRock by 48.9% during the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after purchasing an additional 85 shares in the last quarter. Kings Point Capital Management raised its stake in shares of BlackRock by 34.5% during the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after purchasing an additional 70 shares in the last quarter. Finally, Financial Architects Inc raised its stake in shares of BlackRock by 0.7% during the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after purchasing an additional 2 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.
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BlackRock, Inc. (NYSE BLK) opened at 435.49 on Monday. The firm has a market capitalization of $70.64 billion, a price-to-earnings ratio of 20.90 and a beta of 1.71. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84. The firm has a 50-day moving average price of $422.45 and a 200-day moving average price of $406.87.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by ($0.15). The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.78 earnings per share. Analysts expect that BlackRock, Inc. will post $21.83 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were paid a $2.50 dividend. The ex-dividend date was Thursday, August 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.30%. BlackRock’s payout ratio is presently 47.98%.
In other BlackRock news, insider Jeff A. Smith sold 522 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total value of $220,033.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,447 shares of company stock worth $1,855,015. Corporate insiders own 1.86% of the company’s stock.
BLK has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $476.00 price objective (up previously from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Barclays PLC initiated coverage on BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target on the stock. Bank of America Corporation restated a “buy” rating and issued a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Finally, Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. BlackRock has an average rating of “Buy” and a consensus 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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