Mirador Capital Partners LP boosted its position in BlackRock, Inc. (NYSE:BLK) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,335 shares of the asset manager’s stock after purchasing an additional 46 shares during the period. Mirador Capital Partners LP’s holdings in BlackRock were worth $1,422,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. BlackRock Inc. lifted 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 worth $2,508,733,000 after purchasing an additional 6,314,004 shares during the period. Harbour Capital Advisors LLC lifted its position in BlackRock by 38,807.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after purchasing an additional 1,199,932 shares during the period. UBS Group AG lifted 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 worth $650,563,000 after purchasing an additional 486,502 shares during the period. Vanguard Group Inc. lifted 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 worth $2,989,157,000 after purchasing an additional 250,431 shares during the period. Finally, Clearbridge Investments LLC lifted its position in BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock worth $597,206,000 after purchasing an additional 118,222 shares during the period. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Shares of BlackRock, Inc. (BLK) opened at 428.72 on Friday. The firm’s 50-day moving average is $422.13 and its 200 day moving average is $406.10. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84. The firm has a market capitalization of $69.54 billion, a P/E ratio of 20.58 and a beta of 1.71.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business posted $4.78 earnings per share. BlackRock’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.33%. BlackRock’s payout ratio is presently 47.98%.
A number of equities research analysts have weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $460.00 target price (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Deutsche Bank AG restated a “buy” rating and issued a $455.00 target price (down from $465.00) on shares of BlackRock in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research report on Friday, August 18th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $449.08.
In other news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock 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 SEC, which is available through this link. Also, insider Jeff A. Smith sold 250 shares of BlackRock 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. Over the last ninety days, insiders sold 4,447 shares of company stock worth $1,855,015. 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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