Wayne Hummer Investments L.L.C. lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,059 shares of the asset manager’s stock after acquiring an additional 3 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in BlackRock were worth $447,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Stifel Financial Corp raised its position in shares of BlackRock by 19.1% during the 1st quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after acquiring an additional 27,321 shares in the last quarter. KBC Group NV increased its position in BlackRock by 35.1% during the first quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after buying an additional 13,065 shares during the period. Canada Pension Plan Investment Board increased its position in BlackRock by 48.9% during the second quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after buying an additional 33,400 shares during the period. Everett Harris & Co. CA increased its position in BlackRock by 9.2% during the second quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after buying an additional 8,478 shares during the period. Finally, Markel Corp increased its position in BlackRock by 3.9% during the second quarter. Markel Corp now owns 175,000 shares of the asset manager’s stock worth $73,922,000 after buying an additional 6,500 shares during the period. 82.77% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on BLK. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a research report on Friday, July 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $460.00 price target (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $425.00 price target (up previously from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Deutsche Bank AG lifted their price target on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a research report on Tuesday, June 20th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $449.08.
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BlackRock, Inc. (NYSE BLK) traded up 0.19% during mid-day trading on Friday, hitting $426.51. The company had a trading volume of 225,166 shares. The firm has a market cap of $69.18 billion, a P/E ratio of 20.47 and a beta of 1.71. The stock’s 50 day moving average price is $422.04 and its 200 day moving average price is $405.83. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $4.78 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be issued a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is 47.98%.
In related news, insider Jeff A. Smith sold 250 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the 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. Insiders sold a total of 4,447 shares of company stock valued at $1,855,015 over the last three months. Corporate 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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