Meiji Yasuda Asset Management Co Ltd. boosted its position in BlackRock, Inc. (NYSE:BLK) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,012 shares of the asset manager’s stock after buying an additional 10 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in BlackRock were worth $772,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in BlackRock by 4.1% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock valued at $782,896,000 after buying an additional 80,433 shares in the last quarter. Bank of New York Mellon Corp boosted its position in BlackRock by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 1,333,110 shares of the asset manager’s stock valued at $511,260,000 after buying an additional 9,025 shares in the last quarter. Pioneer Investment Management Inc. boosted its position in BlackRock by 22.7% in the first quarter. Pioneer Investment Management Inc. now owns 598,746 shares of the asset manager’s stock valued at $229,625,000 after buying an additional 110,634 shares in the last quarter. Legal & General Group Plc boosted its position in BlackRock by 3.4% in the first quarter. Legal & General Group Plc now owns 572,559 shares of the asset manager’s stock valued at $219,579,000 after buying an additional 18,978 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in BlackRock by 1.9% in the first quarter. Bahl & Gaynor Inc. now owns 489,393 shares of the asset manager’s stock valued at $187,687,000 after buying an additional 9,263 shares in the last quarter. 80.33% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc. (BLK) traded down 0.28% during midday trading on Wednesday, reaching $427.07. The company’s stock had a trading volume of 326,149 shares. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.83. The company’s 50-day moving average price is $428.46 and its 200-day moving average price is $400.82. The company has a market capitalization of $69.27 billion, a price-to-earnings ratio of 20.50 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $4.78 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, analysts predict that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be paid a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.34%. BlackRock’s payout ratio is 47.98%.
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Several equities analysts recently issued reports on the stock. BidaskClub cut shares of BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Deutsche Bank AG upped their price objective on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 target price on shares of BlackRock in a report on Wednesday, May 17th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective for the company in a report on Tuesday, June 20th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $534.00 target price on shares of BlackRock in a research report on Tuesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and a consensus target price of $434.93.
In other news, insider Jeff A. Smith sold 250 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Mccombe sold 500 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,772 shares of company stock valued at $1,567,516. Company insiders own 1.86% of the company’s stock.
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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