BlackRock Advisors LLC increased its stake in BlackRock Inc. (NYSE:BLK) by 4.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,924 shares of the company’s stock after buying an additional 3,034 shares during the period. BlackRock Advisors LLC’s holdings in BlackRock were worth $22,238,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Feltz Wealth PLAN Inc. bought a new stake in BlackRock during the second quarter valued at approximately $126,000. Ropes Wealth Advisors LLC boosted its stake in BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock valued at $132,000 after buying an additional 101 shares in the last quarter. Citizens Financial Group Inc RI boosted its stake in BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock valued at $133,000 after buying an additional 54 shares in the last quarter. Financial Architects Inc boosted its stake in BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock valued at $148,000 after buying an additional 31 shares in the last quarter. Finally, Jolley Asset Management LLC boosted its stake in BlackRock by 51.6% in the second quarter. Jolley Asset Management LLC now owns 485 shares of the company’s stock valued at $166,000 after buying an additional 165 shares in the last quarter. 81.58% of the stock is owned by hedge funds and other institutional investors.
Shares of BlackRock Inc. (NYSE:BLK) opened at 365.65 on Monday. BlackRock Inc. has a 12 month low of $280.55 and a 12 month high of $376.65. The company has a market capitalization of $60.14 billion, a price-to-earnings ratio of 19.48 and a beta of 1.45. The company’s 50-day moving average is $369.48 and its 200 day moving average is $354.94.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The business earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the company earned $4.96 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock Inc. will post $19.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were paid a $2.29 dividend. This represents a $9.16 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 48.83%.
BLK has been the subject of several research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of BlackRock in a research report on Monday, June 27th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of BlackRock in a research report on Friday, June 10th. Morgan Stanley reissued a “buy” rating on shares of BlackRock in a research report on Tuesday, June 7th. Citigroup Inc. reissued a “buy” rating on shares of BlackRock in a research report on Thursday, June 16th. Finally, Goldman Sachs Group Inc. cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating and lifted their price target for the company from $390.00 to $400.00 in a research report on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $382.94.
In other BlackRock news, Director Susan Wagner sold 79,346 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the completion of the sale, the director now directly owns 587,365 shares of the company’s stock, valued at $215,181,167.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ryan Stork sold 1,400 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $367.24, for a total transaction of $514,136.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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