Oakwood Capital Management LLC CA bought a new position in BlackRock Inc. (NYSE:BLK) during the second quarter, Holdings Channel reports. The fund bought 11,527 shares of the company’s stock, valued at approximately $3,948,000.
Several other hedge funds also recently added to or reduced their stakes in BLK. 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 worth $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 worth $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 worth $148,000 after buying an additional 31 shares in the last quarter. 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 worth $166,000 after buying an additional 165 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new stake in BlackRock during the second quarter worth approximately $201,000. 81.58% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock Inc. (NYSE:BLK) traded up 0.95% during midday trading on Thursday, reaching $373.87. 557,054 shares of the company traded hands. The company’s 50 day moving average is $369.50 and its 200-day moving average is $354.66. BlackRock Inc. has a 12 month low of $280.55 and a 12 month high of $376.65. The stock has a market capitalization of $61.49 billion, a price-to-earnings ratio of 19.92 and a beta of 1.45.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. The company earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 EPS. Equities research analysts forecast that BlackRock Inc. will post $19.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be issued a dividend of $2.29 per share. The ex-dividend date is Wednesday, August 31st. This represents a $9.16 annualized dividend and a yield of 2.45%. BlackRock’s dividend payout ratio (DPR) is currently 48.83%.
A number of analysts have recently commented on BLK shares. Deutsche Bank AG reissued a “buy” rating on shares of BlackRock in a research note on Monday, June 27th. Credit Suisse Group AG reissued a “buy” rating on shares of BlackRock in a research note on Friday, June 10th. Morgan Stanley reissued a “buy” rating on shares of BlackRock in a research note on Tuesday, June 7th. Citigroup Inc. reissued a “buy” rating on shares of BlackRock in a research note on Thursday, June 16th. Finally, Goldman Sachs Group Inc. cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating and boosted their target price for the stock from $390.00 to $400.00 in a research note on Monday, August 8th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $382.94.
In other BlackRock news, Director Mark Mccombe sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $374.92, for a total transaction of $524,888.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Wagner sold 79,346 shares of the firm’s 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 transaction, the director now owns 587,365 shares of the company’s stock, valued at $215,181,167.75. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
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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