Fox Run Management L.L.C. purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,200 shares of the asset manager’s stock, valued at approximately $507,000.
Several other large investors have also modified their holdings of the company. Proficio Capital Partners LLC increased its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares during the last quarter. Kings Point Capital Management increased its position in BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in BlackRock during the first quarter valued at approximately $108,000. Peoples Financial Services CORP. purchased a new position in BlackRock during the first quarter valued at approximately $115,000. Finally, Twin Tree Management LP increased its position in BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock valued at $132,000 after buying an additional 1,443 shares during the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.
Shares of BlackRock, Inc. (BLK) traded down 1.30% during mid-day trading on Thursday, reaching $425.75. The company’s stock had a trading volume of 136,336 shares. The stock has a 50 day moving average of $427.95 and a 200-day moving average of $399.18. The stock has a market cap of $69.06 billion, a P/E ratio of 20.44 and a beta of 1.71. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the company posted $4.78 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
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Several research firms have commented on BLK. BidaskClub downgraded BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG restated a “buy” rating and set a $455.00 price objective (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Jefferies Group LLC restated a “hold” rating and set a $387.00 price objective on shares of BlackRock in a report on Wednesday, May 17th. Zacks Investment Research downgraded BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Credit Suisse Group restated an “outperform” rating and set a $534.00 price objective on shares of BlackRock in a report on Tuesday, July 18th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $434.93.
In related news, insider Jeff A. Smith sold 522 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total value of $220,033.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan Wagner sold 2,500 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the transaction, the director now directly owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock worth $1,567,516 in the last ninety days. Corporate insiders own 1.86% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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