Miles Capital Inc. raised its stake in BlackRock, Inc. (NYSE:BLK) by 373.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,444 shares of the asset manager’s stock after purchasing an additional 2,716 shares during the quarter. BlackRock accounts for about 0.8% of Miles Capital Inc.’s portfolio, making the stock its 15th biggest position. Miles Capital Inc.’s holdings in BlackRock were worth $1,455,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of BLK. Waldron LP raised its stake in shares of BlackRock by 108.2% in the first quarter. Waldron LP now owns 1,164 shares of the asset manager’s stock worth $446,000 after purchasing an additional 605 shares during the last quarter. Commerce Bank grew its holdings in shares of BlackRock by 6.9% in the first quarter. Commerce Bank now owns 56,133 shares of the asset manager’s stock valued at $21,527,000 after acquiring an additional 3,600 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of BlackRock by 29.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,027 shares of the asset manager’s stock valued at $3,462,000 after acquiring an additional 2,059 shares in the last quarter. TFS Capital LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $479,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of BlackRock by 21.9% in the first quarter. Parkside Financial Bank & Trust now owns 624 shares of the asset manager’s stock valued at $239,000 after acquiring an additional 112 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.
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In other news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. In the last three months, insiders have sold 5,025 shares of company stock valued at $2,162,130. Insiders own 1.86% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) opened at 477.96 on Tuesday. The stock has a market cap of $77.24 billion, a P/E ratio of 22.39 and a beta of 1.72. The firm’s 50 day moving average price is $437.85 and its 200 day moving average price is $416.14. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $485.23.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the firm posted $5.14 EPS. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, analysts expect that BlackRock, Inc. will post $22.35 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s payout ratio is 46.82%.
BLK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 target price on shares of BlackRock in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised BlackRock from a “neutral” rating to a “buy” rating and upped their target price for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $475.00 target price (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Bank of America Corporation reaffirmed a “buy” rating and issued a $450.00 target price on shares of BlackRock in a report on Monday, June 19th. Finally, Barclays PLC initiated coverage on BlackRock in a report on Friday, September 8th. They issued an “overweight” rating and a $475.00 target price for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and an average target price of $478.50.
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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