Burns J W & Co. Inc. NY maintained its position in shares of BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,006 shares of the asset manager’s stock at the end of the second quarter. Burns J W & Co. Inc. NY’s holdings in BlackRock were worth $425,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares during the period. UBS Group AG boosted its position in shares of BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after buying an additional 486,502 shares during the period. Vanguard Group Inc. boosted its position in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after buying an additional 250,431 shares during the period. Clearbridge Investments LLC boosted its position in shares of BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock worth $597,206,000 after buying an additional 118,222 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of BlackRock by 134.9% in the first quarter. Renaissance Technologies LLC now owns 199,968 shares of the asset manager’s stock worth $76,690,000 after buying an additional 114,854 shares during the period. 80.37% of the stock is currently owned by institutional investors and hedge funds.
BlackRock, Inc. (NYSE:BLK) traded down 1.30% during midday trading on Thursday, hitting $425.75. The company had a trading volume of 136,336 shares. The stock has a 50 day moving average price of $427.95 and a 200 day moving average price of $399.18. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84. The company has a market capitalization of $69.06 billion, a P/E ratio of 20.44 and a beta of 1.71.
BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.78 EPS. Equities analysts forecast that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is 47.98%.
BLK has been the topic of a number of analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $441.00 price target (down from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $460.00 price target (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Bank of America Corporation reaffirmed a “buy” rating and issued a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $425.00 price target (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $434.93.
In other BlackRock news, insider Mark Mccombe sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. In the last three months, insiders sold 3,772 shares of company stock worth $1,567,516. 1.86% of the stock is owned by corporate insiders.
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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