UBS Group AG boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 40.2% during the first quarter, Holdings Channel reports. The firm owned 1,696,340 shares of the asset manager’s stock after buying an additional 486,502 shares during the period. UBS Group AG’s holdings in BlackRock were worth $650,563,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Quadrature Capital Ltd purchased a new position in BlackRock during the fourth quarter worth $3,923,000. Ibex Wealth Advisors purchased a new position in BlackRock during the fourth quarter worth $796,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in BlackRock by 95.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,140 shares of the asset manager’s stock worth $16,417,000 after buying an additional 21,075 shares during the period. HighPoint Advisor Group LLC purchased a new position in BlackRock during the fourth quarter worth $291,000. Finally, Teachers Advisors LLC boosted its position in BlackRock by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 199,298 shares of the asset manager’s stock worth $75,841,000 after buying an additional 8,321 shares during the period. Institutional investors own 80.92% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) opened at 428.65 on Monday. The stock has a market cap of $69.53 billion, a PE ratio of 20.57 and a beta of 1.71. The firm has a 50-day moving average of $424.10 and a 200 day moving average of $394.52. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.83.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.78 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post $21.90 EPS 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. This represents a $10.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
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BLK has been the topic of a number of analyst reports. Deutsche Bank AG lifted 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 Thursday, April 6th. Jefferies Group LLC restated a “hold” rating and set a $387.00 target price on shares of BlackRock in a research note on Wednesday, May 17th. Bank of America Corporation restated a “buy” rating and set a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research note on Tuesday, June 20th. Finally, BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $434.93.
In other news, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,522 shares of company stock worth $1,458,798. Insiders own 1.86% of the company’s stock.
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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