Inscription Capital LLC decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 77.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 783 shares of the asset manager’s stock after selling 2,721 shares during the period. Inscription Capital LLC’s holdings in BlackRock were worth $685,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brown Brothers Harriman & Co. grew its position in BlackRock by 8.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 714 shares of the asset manager’s stock worth $625,000 after purchasing an additional 56 shares during the last quarter. Holistic Financial Partners lifted its stake in shares of BlackRock by 21.9% in the 2nd quarter. Holistic Financial Partners now owns 340 shares of the asset manager’s stock valued at $297,000 after purchasing an additional 61 shares during the period. Wambolt & Associates LLC lifted its stake in shares of BlackRock by 17.2% in the 2nd quarter. Wambolt & Associates LLC now owns 2,358 shares of the asset manager’s stock valued at $2,074,000 after purchasing an additional 346 shares during the period. Lincoln National Corp increased its holdings in BlackRock by 11.4% in the 2nd quarter. Lincoln National Corp now owns 833 shares of the asset manager’s stock worth $729,000 after acquiring an additional 85 shares in the last quarter. Finally, Nachman Norwood & Parrott Inc increased its holdings in BlackRock by 2.9% in the 2nd quarter. Nachman Norwood & Parrott Inc now owns 489 shares of the asset manager’s stock worth $428,000 after acquiring an additional 14 shares in the last quarter. 78.13% of the stock is currently owned by institutional investors and hedge funds.
BLK has been the subject of a number of research reports. Argus upped their target price on shares of BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. UBS Group upped their target price on shares of BlackRock from $890.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, July 8th. Credit Suisse Group reduced their price target on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Thursday, July 15th. BMO Capital Markets reduced their price target on shares of BlackRock from $797.00 to $794.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $956.00 target price on shares of BlackRock in a report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $952.29.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 12th. The asset manager reported $10.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.81 by $1.14. The company had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.82 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.22 earnings per share. As a group, research analysts anticipate that BlackRock, Inc. will post 38.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were issued a dividend of $4.13 per share. This represents a $16.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, September 3rd. BlackRock’s dividend payout ratio is 48.85%.
In related news, General Counsel Christopher J. Meade sold 2,106 shares of the stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total value of $1,847,467.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.16% of the company’s stock.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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