Franklin Street Advisors Inc. NC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 9.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,137 shares of the asset manager’s stock after buying an additional 2,754 shares during the period. BlackRock makes up approximately 2.4% of Franklin Street Advisors Inc. NC’s holdings, making the stock its 8th largest position. Franklin Street Advisors Inc. NC’s holdings in BlackRock were worth $13,997,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC increased its position in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares in the last quarter. Kings Point Capital Management increased its position in BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares in the last quarter. State of Alaska Department of Revenue bought a new position in BlackRock during the first quarter worth approximately $108,000. Twin Tree Management LP increased its position in BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock worth $132,000 after buying an additional 1,443 shares in the last quarter. Finally, NEXT Financial Group Inc increased its position in BlackRock by 70.2% in the second quarter. NEXT Financial Group Inc now owns 388 shares of the asset manager’s stock worth $164,000 after buying an additional 160 shares in the last quarter. 80.33% of the stock is owned by institutional investors.
BlackRock, Inc. (NYSE:BLK) traded down 0.5373% during trading on Friday, reaching $417.6838. The company’s stock had a trading volume of 404,900 shares. The stock’s 50-day moving average is $428.26 and its 200 day moving average is $400.96. The firm has a market capitalization of $67.75 billion, a price-to-earnings ratio of 20.0482 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84.
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 Zacks’ 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 firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the business earned $4.78 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The company 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 dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
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A number of research analysts have recently commented on BLK shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $455.00 price objective (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. 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 research note on Tuesday, June 20th. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. BidaskClub downgraded shares of BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 price objective on shares of BlackRock in a research note on Wednesday, May 17th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock has an average rating of “Buy” and an average price target of $443.00.
In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $1,035,775.00. Following the sale, the director now directly owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. Insiders have sold a total of 3,772 shares of company stock valued at $1,567,516 over the last ninety days. Company 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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