Asset Advisors Corp increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,845 shares of the asset manager’s stock after buying an additional 220 shares during the period. Asset Advisors Corp’s holdings in BlackRock were worth $6,693,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC raised 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 valued at $103,000 after buying an additional 85 shares during the period. Kings Point Capital Management raised 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 valued at $105,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue bought a new position in BlackRock during the first quarter valued at approximately $108,000. Peoples Financial Services CORP. bought a new position in BlackRock during the first quarter valued at approximately $115,000. Finally, Twin Tree Management LP raised 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 valued at $132,000 after buying an additional 1,443 shares during the period. 80.33% of the stock is owned by institutional investors.
Shares of BlackRock, Inc. (NYSE:BLK) traded down 0.81% during midday trading on Friday, hitting $416.55. The stock had a trading volume of 1,015,041 shares. The stock has a 50-day moving average of $428.07 and a 200 day moving average of $401.25. The stock has a market cap of $67.57 billion, a PE ratio of 19.99 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 announced its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.78 earnings per share. Analysts anticipate that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a $2.50 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.40%. BlackRock’s dividend payout ratio is currently 47.98%.
Several equities analysts have recently commented on BLK shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $455.00 target price (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Zacks Investment Research raised 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. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. BidaskClub lowered BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $387.00 price objective on shares of BlackRock in a report on Wednesday, May 17th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $443.00.
In related news, insider Mark Mccombe sold 500 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which can be accessed through this link. Also, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the completion of the sale, 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. Insiders sold a total of 3,772 shares of company stock worth $1,567,516 over the last ninety days. 1.86% of the stock is currently owned by insiders.
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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