Wafra Investment Advisory Group Inc. NY bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the first quarter, according to its most recent disclosure with the SEC. The fund bought 25,435 shares of the asset manager’s stock, valued at approximately $9,755,000.
Other large investors also recently bought and sold shares of the company. Alpha Windward LLC raised its position in shares of BlackRock by 0.6% in the first quarter. Alpha Windward LLC now owns 487 shares of the asset manager’s stock worth $187,000 after buying an additional 3 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of BlackRock by 0.5% in the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock valued at $233,000 after buying an additional 3 shares during the period. JNBA Financial Advisors raised its position in shares of BlackRock by 0.4% in the first quarter. JNBA Financial Advisors now owns 910 shares of the asset manager’s stock valued at $349,000 after buying an additional 4 shares during the period. Bangor Savings Bank raised its position in shares of BlackRock by 0.7% in the first quarter. Bangor Savings Bank now owns 1,165 shares of the asset manager’s stock valued at $446,000 after buying an additional 8 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in shares of BlackRock by 0.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,012 shares of the asset manager’s stock valued at $772,000 after buying an additional 10 shares during the period. 80.37% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE:BLK) opened at 424.16 on Friday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84. The company has a 50-day moving average price of $428.03 and a 200-day moving average price of $399.68. The firm has a market capitalization of $68.80 billion, a P/E ratio of 20.36 and a beta of 1.71.
BlackRock (NYSE:BLK) last posted its earnings results 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. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a return on equity of 11.71% and a net margin of 29.24%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.78 EPS. On average, equities research analysts predict that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio is presently 47.98%.
Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research report on Friday, July 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $460.00 target price (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Wells Fargo & Company reiterated a “market perform” rating and issued a $425.00 price target (up from $380.00) on shares of BlackRock in a report on Wednesday, July 12th. Deutsche Bank AG increased their price target on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a report on Tuesday, June 20th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. BlackRock currently has an average rating of “Buy” and an average target price of $434.93.
In related news, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the transaction, the director now directly owns 484,386 shares in the company, valued at $200,685,963.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,772 shares of company stock valued at $1,567,516. 1.86% of the stock is currently owned by corporate insiders.
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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