Greenwood Capital Associates LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,535 shares of the asset manager’s stock after acquiring an additional 63 shares during the quarter. BlackRock comprises approximately 1.4% of Greenwood Capital Associates LLC’s investment portfolio, making the stock its 19th largest holding. Greenwood Capital Associates LLC’s holdings in BlackRock were worth $5,295,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Enterprise Financial Services Corp increased its holdings in shares of BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after acquiring an additional 85 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of BlackRock during the second quarter valued at about $104,000. Proficio Capital Partners LLC increased its holdings in shares of BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after acquiring an additional 85 shares in the last quarter. Kings Point Capital Management increased its holdings in shares of BlackRock by 34.5% during the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 70 shares in the last quarter. Finally, Financial Architects Inc increased its holdings in shares of BlackRock by 0.7% during the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after acquiring an additional 2 shares in the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
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In other news, insider Jeff A. Smith sold 250 shares of the business’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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction that occurred 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 three months, insiders sold 4,447 shares of company stock worth $1,855,015. Corporate insiders own 1.86% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) opened at 428.72 on Friday. The stock has a market cap of $69.54 billion, a price-to-earnings ratio of 20.58 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84. The firm has a 50-day moving average price of $422.13 and a 200 day moving average price of $406.10.
BlackRock (NYSE:BLK) last released its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) 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 analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.78 EPS. Analysts expect that BlackRock, Inc. will post $21.83 earnings per share for the current year.
The business also recently announced 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. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is currently 47.98%.
A number of brokerages recently commented on BLK. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Morgan Stanley reiterated 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. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research report on Friday, July 14th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. BlackRock currently 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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