Scotia Capital Inc. decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,671 shares of the asset manager’s stock after selling 228 shares during the period. Scotia Capital Inc.’s holdings in BlackRock were worth $1,550,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of BLK. BlackRock Inc. increased its stake in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after purchasing an additional 6,314,004 shares in the last quarter. Third Point LLC purchased a new position in shares of BlackRock in the second quarter worth about $654,736,000. Harbour Capital Advisors LLC increased its stake in shares of BlackRock by 38,807.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after purchasing an additional 1,199,932 shares in the last quarter. Capital World Investors increased its stake in shares of BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
In other 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 transaction of $108,717.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were 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. Over the last ninety days, insiders have sold 4,447 shares of company stock valued at $1,855,015. Insiders own 1.86% of the company’s stock.
Several research firms have recently weighed in on BLK. Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research note on Thursday. J P Morgan Chase & Co lifted their target price on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Group LLC reiterated a “hold” rating and issued a $465.00 target price on shares of BlackRock in a research note on Thursday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 target price on shares of BlackRock in a research note on Thursday. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $478.50.
Shares of BlackRock, Inc. (BLK) traded up 0.43% during midday trading on Friday, reaching $482.64. 138,145 shares of the company’s stock traded hands. BlackRock, Inc. has a one year low of $336.84 and a one year high of $485.23. The stock’s 50-day moving average price is $435.54 and its 200 day moving average price is $414.91. The firm has a market capitalization of $78.29 billion, a PE ratio of 22.61 and a beta of 1.72.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the firm posted $5.14 EPS. The company’s revenue was up 14.0% on a year-over-year basis. On average, equities research analysts expect that BlackRock, Inc. will post $22.15 earnings per share for the current fiscal year.
The business 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 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 46.82%.
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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