Starfire Investment Advisers Inc. maintained its position in BlackRock Inc. (NYSE:BLK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,650 shares of the company’s stock at the end of the second quarter. Starfire Investment Advisers Inc.’s holdings in BlackRock were worth $565,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Sun Life Financial INC purchased a new position in BlackRock during the first quarter valued at approximately $91,954,000. Ropes Wealth Advisors LLC increased its position 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 during the last quarter. Citizens Financial Group Inc RI increased its position 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 increased its position 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. Finally, Jolley Asset Management LLC increased its position 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. Institutional investors and hedge funds own 81.58% of the company’s stock.
BlackRock Inc. (NYSE:BLK) traded up 0.11% on Friday, reaching $357.21. The company had a trading volume of 786,835 shares. The stock’s 50 day moving average price is $366.96 and its 200-day moving average price is $356.59. 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 $58.75 billion, a PE ratio of 19.03 and a beta of 1.46.
BlackRock (NYSE:BLK) last posted its earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The company earned $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the firm posted $4.96 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts expect that BlackRock Inc. will post $19.23 earnings per share for the current fiscal year.
The firm 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. This represents a $9.16 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio is presently 48.83%.
Several research firms recently commented on BLK. Barclays PLC reiterated a “hold” rating on shares of BlackRock in a research note on Sunday, July 17th. Deutsche Bank AG reiterated a “buy” rating and issued a $392.00 price objective (up previously from $372.00) on shares of BlackRock in a research note on Sunday, July 10th. Jefferies Group dropped their price objective on BlackRock from $359.00 to $357.00 and set a “hold” rating on the stock in a research note on Monday, July 11th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price objective on the stock in a research note on Monday, September 19th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of BlackRock in a research note on Friday, June 10th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $383.19.
In related news, Director J. Richard Kushel sold 8,000 shares of BlackRock stock in a transaction on Friday, July 15th. The shares were sold at an average price of $356.55, for a total transaction of $2,852,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ryan Stork sold 1,400 shares of BlackRock stock in a transaction on 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. 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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