Groesbeck Investment Management Corp NJ decreased its position in BlackRock, Inc. (NYSE:BLK) by 9.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,137 shares of the asset manager’s stock after selling 228 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in BlackRock were worth $903,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLK. State of Alaska Department of Revenue purchased a new stake in shares of BlackRock during the first quarter worth $108,000. Waldron LP increased its holdings in BlackRock by 108.2% in the first quarter. Waldron LP now owns 1,164 shares of the asset manager’s stock valued at $446,000 after buying an additional 605 shares during the last quarter. IFP Advisors Inc increased its holdings in BlackRock by 5.6% in the first quarter. IFP Advisors Inc now owns 2,204 shares of the asset manager’s stock valued at $845,000 after buying an additional 116 shares during the last quarter. Schmidt P J Investment Management Inc. increased its holdings in BlackRock by 36.0% in the first quarter. Schmidt P J Investment Management Inc. now owns 12,160 shares of the asset manager’s stock valued at $4,663,000 after buying an additional 3,221 shares during the last quarter. Finally, iAB Financial Bank increased its holdings in BlackRock by 9.2% in the first quarter. iAB Financial Bank now owns 4,737 shares of the asset manager’s stock valued at $1,817,000 after buying an additional 400 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.
In related news, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. 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.
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Several equities analysts have issued reports on BLK shares. Morgan Stanley restated an “overweight” rating and issued a $476.00 price objective (up previously from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Bank of America Corporation reiterated a “buy” rating and set a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Finally, Barclays PLC began coverage on shares of BlackRock in a research report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $449.08.
BlackRock, Inc. (NYSE:BLK) opened at 435.49 on Friday. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84. The firm has a market cap of $70.64 billion, a price-to-earnings ratio of 20.90 and a beta of 1.71. The firm has a 50 day moving average of $422.45 and a 200-day moving average of $406.87.
BlackRock (NYSE:BLK) last announced 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 business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.78 EPS. Equities research analysts forecast that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were given a $2.50 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.30%. BlackRock’s payout ratio is presently 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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