UMB Bank N A MO increased its position in shares of BlackRock Inc. (NYSE:BLK) by 13.0% during the second quarter, Holdings Channel reports. The institutional investor owned 27,498 shares of the company’s stock after buying an additional 3,157 shares during the period. UMB Bank N A MO’s holdings in BlackRock were worth $9,419,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Ropes Wealth Advisors LLC raised 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 raised 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 raised 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 raised 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 about $201,000. 81.58% of the stock is currently owned by institutional investors.
BlackRock Inc. (NYSE:BLK) traded down 2.20% during mid-day trading on Friday, hitting $365.65. The stock had a trading volume of 549,728 shares. The company has a 50-day moving average of $369.50 and a 200-day moving average of $354.66. The stock has a market cap of $60.14 billion, a price-to-earnings ratio of 19.48 and a beta of 1.45. BlackRock Inc. has a 12-month low of $280.55 and a 12-month high of $376.65.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the company earned $4.96 EPS. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. On average, analysts anticipate that BlackRock Inc. will post $19.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be paid a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, August 31st. BlackRock’s payout ratio is currently 48.83%.
A number of equities research analysts have issued reports on BLK shares. Deutsche Bank AG reaffirmed a “buy” rating on shares of BlackRock in a research report on Monday, June 27th. Credit Suisse Group AG reiterated a “buy” rating on shares of BlackRock in a report on Friday, June 10th. Morgan Stanley reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, June 7th. Citigroup Inc. reiterated a “buy” rating on shares of BlackRock in a report on Thursday, June 16th. Finally, Goldman Sachs Group Inc. downgraded BlackRock from a “conviction-buy” rating to a “buy” rating and increased their price objective for the company from $390.00 to $400.00 in a report on Monday, August 8th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $382.94.
In other news, Director J. Richard Kushel sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $356.55, for a total transaction of $2,852,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan Stork sold 1,400 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $367.24, for a total value of $514,136.00. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
BlackRock Company Profile
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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