Ropes Wealth Advisors LLC cut its position in 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 and Exchange Commission (SEC). The firm owned 435 shares of the asset manager’s stock after selling 2 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in BlackRock were worth $184,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of BLK. BlackRock Inc. raised its holdings in BlackRock by 2,775.4% during the 1st quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after acquiring an additional 6,314,004 shares during the period. Harbour Capital Advisors LLC boosted its holdings in shares of 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 acquiring an additional 1,199,932 shares during the period. Vanguard Group Inc. boosted its holdings in shares of BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after acquiring an additional 656,569 shares during the period. UBS Group AG boosted its holdings in shares of 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 acquiring an additional 486,502 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of BlackRock by 207.1% in the second quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock worth $222,771,000 after acquiring an additional 355,630 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Shares of BlackRock, Inc. (BLK) opened at 450.79 on Wednesday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $450.90. The company has a market capitalization of $73.12 billion, a P/E ratio of 21.64 and a beta of 1.72. The firm has a 50-day moving average of $426.35 and a 200 day moving average of $410.87.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business earned $4.78 EPS. BlackRock’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts anticipate that BlackRock, Inc. will post $21.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s payout ratio is 47.98%.
Several brokerages have commented on BLK. Jefferies Group LLC restated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research note on Friday, August 18th. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price target on shares of BlackRock in a report on Monday, June 19th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $476.00 price objective (up from $460.00) on shares of BlackRock in a research report on Tuesday, July 18th. Finally, Deutsche Bank AG boosted their price objective 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $458.15.
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In other BlackRock news, insider Jeff A. Smith sold 522 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 stock was 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 ninety days, insiders sold 4,447 shares of company stock valued at $1,855,015. 1.86% of the stock is owned by insiders.
BlackRock Company Profile
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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