Balentine LLC reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 455 shares of the asset manager’s stock after selling 3 shares during the period. Balentine LLC’s holdings in BlackRock were worth $192,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of BLK. Financial Architects Inc raised its position in BlackRock by 0.7% during the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after purchasing an additional 2 shares in the last quarter. Davis R M Inc. raised its position in BlackRock by 0.4% during the 2nd quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock valued at $238,000 after purchasing an additional 2 shares in the last quarter. National Asset Management Inc. raised its position in BlackRock by 0.4% during the 1st quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after purchasing an additional 3 shares in the last quarter. Proficio Capital Partners LLC raised its position in BlackRock by 1.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 3 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. raised its position in BlackRock by 0.4% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 3 shares in the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.
Shares of BlackRock, Inc. (NYSE:BLK) traded up 0.55% on Wednesday, reaching $468.03. The company had a trading volume of 345,105 shares. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $474.00. The firm has a market capitalization of $75.34 billion, a PE ratio of 22.47 and a beta of 1.72. The firm’s 50 day moving average is $432.25 and its 200 day moving average is $414.01.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, October 16th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.14 earnings per share. On average, equities research analysts expect that BlackRock, Inc. will post $21.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s payout ratio is 47.98%.
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BLK has been the subject of a number of research analyst reports. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $460.00 target price (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $440.00 price target on shares of BlackRock in a report on Friday, July 14th. Finally, Zacks Investment Research downgraded BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $462.00.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,447 shares of company stock worth $1,855,015. Corporate insiders own 1.86% of the company’s stock.
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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