Redwood Investments LLC maintained its position in BlackRock Inc. (NYSE:BLK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 500 shares of the company’s stock at the end of the second quarter. Redwood Investments LLC’s holdings in BlackRock were worth $171,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of 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 valued at $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 valued at $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 valued at $148,000 after buying an additional 31 shares during 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 valued at $166,000 after buying an additional 165 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in BlackRock during the second quarter valued at $201,000. 81.58% of the stock is currently owned by institutional investors and hedge funds.
BlackRock Inc. (NYSE:BLK) traded down 0.40% during trading on Thursday, reaching $356.80. The company had a trading volume of 707,818 shares. The company has a market capitalization of $58.68 billion, a PE ratio of 19.01 and a beta of 1.46. BlackRock Inc. has a 52-week low of $280.55 and a 52-week high of $376.65. The company has a 50 day moving average price of $367.34 and a 200 day moving average price of $356.58.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. The firm earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. BlackRock’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 earnings per share. On average, equities analysts forecast that BlackRock Inc. will post $19.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were given a $2.29 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a yield of 2.57%. BlackRock’s payout ratio is 48.83%.
Several analysts have weighed in on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $392.00 target price (up previously from $372.00) on shares of BlackRock in a research note on Sunday, July 10th. Barclays PLC reiterated a “hold” rating on shares of BlackRock in a research report on Sunday, July 17th. Jefferies Group reissued a “hold” rating on shares of BlackRock in a report on Friday, August 5th. Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Keefe, Bruyette & Woods downgraded shares of BlackRock from an “outperform” rating to a “market perform” rating and cut their price target for the company from $390.00 to $383.00 in a report on Friday, July 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $383.19.
In other news, Director James Grosfeld sold 25,379 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $374.22, for a total transaction of $9,497,329.38. Following the completion of the transaction, the director now directly owns 514,402 shares in the company, valued at approximately $192,499,516.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Stork sold 1,400 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was 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. 2.20% of the stock is owned by corporate insiders.
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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