Renaissance Group LLC lowered its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545 shares of the asset manager’s stock after selling 7 shares during the period. Renaissance Group LLC’s holdings in BlackRock were worth $230,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after acquiring an additional 85 shares in the last quarter. Enterprise Financial Services Corp boosted its stake in BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after acquiring an additional 85 shares in the last quarter. Penserra Capital Management LLC bought a new stake in BlackRock during the second quarter worth about $104,000. Kings Point Capital Management boosted its stake in BlackRock by 34.5% during the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after acquiring an additional 70 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in BlackRock during the first quarter worth about $108,000. 82.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’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. In the last 90 days, insiders sold 4,447 shares of company stock valued at $1,855,015. Insiders own 1.86% of the company’s stock.
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BlackRock, Inc. (NYSE:BLK) opened at 425.68 on Friday. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84. The company’s 50-day moving average is $422.04 and its 200-day moving average is $405.83. The company has a market cap of $69.05 billion, a P/E ratio of 20.43 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its quarterly 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 business had revenue of $2.97 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $4.78 EPS. On average, equities research analysts expect that BlackRock, Inc. will post $21.82 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be issued a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.35%. BlackRock’s dividend payout ratio (DPR) is 47.98%.
Several equities research analysts recently commented on the stock. Jefferies Group LLC reissued a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, August 18th. 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. Morgan Stanley reissued 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. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a research note on Tuesday, June 20th. Finally, Deutsche Bank AG upped their target price on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average 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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