Papp L Roy & Associates raised its position in BlackRock Inc. (NYSE:BLK) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,700 shares of the company’s stock after buying an additional 27 shares during the period. BlackRock makes up about 4.3% of Papp L Roy & Associates’ investment portfolio, making the stock its 2nd largest position. Papp L Roy & Associates’ holdings in BlackRock were worth $18,052,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Sun Life Financial INC acquired a new stake in BlackRock during the first quarter worth $91,954,000. 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 during 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 during 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 during the last quarter. Finally, 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 during the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
Shares of BlackRock Inc. (NYSE:BLK) traded up 0.62% during trading on Wednesday, reaching $358.24. 705,789 shares of the company’s stock were exchanged. BlackRock Inc. has a 52 week low of $280.55 and a 52 week high of $376.65. The stock has a 50 day moving average price of $367.34 and a 200-day moving average price of $356.58. The stock has a market capitalization of $58.92 billion, a price-to-earnings ratio of 19.09 and a beta of 1.46.
BlackRock (NYSE:BLK) last posted its quarterly earnings results 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 company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $4.96 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts predict that BlackRock Inc. will post $19.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were paid a dividend of $2.29 per share. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.56%. BlackRock’s dividend payout ratio (DPR) is presently 48.83%.
BLK has been the topic of several analyst reports. Morgan Stanley restated a “buy” rating on shares of BlackRock in a research report on Tuesday, June 7th. Credit Suisse Group AG restated a “buy” rating on shares of BlackRock in a research report on Friday, June 10th. Barclays PLC restated an “equal weight” rating and set a $363.00 price target on shares of BlackRock in a research report on Wednesday, June 15th. Citigroup Inc. restated a “buy” rating on shares of BlackRock in a research report on Thursday, June 16th. Finally, Deutsche Bank AG dropped their price target on shares of BlackRock from $386.00 to $383.00 and set a “buy” rating on the stock in a research report on Thursday, June 16th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $383.19.
In other news, Director Mark Mccombe sold 1,400 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Wagner sold 79,346 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the transaction, the director now directly owns 587,365 shares in the company, valued at $215,181,167.75. The disclosure for this sale can be found here. 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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