Commerce Bank raised its position in BlackRock, Inc. (NYSE:BLK) by 4.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 58,545 shares of the asset manager’s stock after acquiring an additional 2,412 shares during the period. Commerce Bank’s holdings in BlackRock were worth $24,729,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Financial Architects Inc lifted its stake in shares of BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after purchasing an additional 2 shares during the period. Davis R M Inc. lifted its stake in shares of BlackRock by 0.4% in the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock valued at $238,000 after purchasing an additional 2 shares during the period. Eqis Capital Management Inc. lifted its stake in shares of BlackRock by 0.5% in the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock valued at $233,000 after purchasing an additional 3 shares during the period. National Asset Management Inc. lifted its stake in shares of BlackRock by 0.4% in the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after purchasing an additional 3 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in shares of BlackRock by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 3 shares during the period. Institutional investors own 82.77% of the company’s stock.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were 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. Insiders sold a total of 4,447 shares of company stock valued at $1,855,015 over the last three months. 1.86% of the stock is owned by corporate insiders.
Several brokerages recently commented on BLK. Morgan Stanley reiterated an “overweight” rating and issued a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Deutsche Bank AG reiterated a “buy” rating and issued a $455.00 price objective (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, August 18th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $449.08.
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Shares of BlackRock, Inc. (BLK) opened at 428.72 on Friday. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84. The stock’s 50 day moving average is $422.13 and its 200-day moving average is $406.10. The stock 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 issued 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). 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 analyst estimates of $3.01 billion. During the same period in the previous year, the company posted $4.78 earnings per share. BlackRock’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post $21.83 EPS for the current year.
The firm 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 2.33%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is 47.98%.
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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