Whalerock Point Partners LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 73.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,491 shares of the asset manager’s stock after acquiring an additional 630 shares during the quarter. Whalerock Point Partners LLC’s holdings in BlackRock were worth $630,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in BlackRock by 207.1% in the 2nd quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock valued at $222,771,000 after acquiring an additional 355,630 shares in the last quarter. Greenwood Capital Associates LLC lifted its position in BlackRock by 0.5% in the 2nd quarter. Greenwood Capital Associates LLC now owns 12,535 shares of the asset manager’s stock valued at $5,295,000 after acquiring an additional 63 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC lifted its position in BlackRock by 3.1% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 636 shares of the asset manager’s stock valued at $269,000 after acquiring an additional 19 shares in the last quarter. Homrich & Berg lifted its position in BlackRock by 13.8% in the 2nd quarter. Homrich & Berg now owns 1,988 shares of the asset manager’s stock valued at $840,000 after acquiring an additional 241 shares in the last quarter. Finally, Keybank National Association OH lifted its position in BlackRock by 2.9% in the 2nd quarter. Keybank National Association OH now owns 90,823 shares of the asset manager’s stock valued at $38,365,000 after acquiring an additional 2,534 shares in the last quarter. 82.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (BLK) opened at 428.72 on Friday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84. The stock has a 50 day moving average price of $422.13 and a 200 day moving average price of $406.10. The stock has a market capitalization of $69.54 billion, a price-to-earnings ratio of 20.58 and a beta of 1.71.
BlackRock (NYSE:BLK) last posted its earnings results 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). The business had revenue of $2.97 billion for 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 quarter in the prior year, the firm earned $4.78 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post $21.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a dividend of $2.50 per share. 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 dividend payout ratio is presently 47.98%.
Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research report on Friday, July 14th. Morgan Stanley reiterated an “overweight” rating and set a $460.00 target price (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Wells Fargo & Company reiterated a “market perform” rating and set a $425.00 target price (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Deutsche Bank AG boosted their target price on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research note on Tuesday, June 20th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $449.08.
In related news, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold 4,447 shares of company stock valued at $1,855,015 over the last 90 days. 1.86% of the stock is currently owned by insiders.
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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