Cypress Asset Management Inc. TX held its position in BlackRock, Inc. (NYSE:BLK) during the second quarter, Holdings Channel reports. The fund owned 1,865 shares of the asset manager’s stock at the end of the second quarter. Cypress Asset Management Inc. TX’s holdings in BlackRock were worth $788,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in shares of BlackRock by 44.1% in the first quarter. Fisher Asset Management LLC now owns 108,774 shares of the asset manager’s stock worth $41,716,000 after buying an additional 33,283 shares during the last quarter. Stifel Financial Corp raised its position in shares of BlackRock by 19.1% in the first quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after buying an additional 27,321 shares during the last quarter. KBC Group NV raised its position in shares of BlackRock by 35.1% in the first quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after buying an additional 13,065 shares during the last quarter. Van Cleef Asset Management Inc raised its position in shares of BlackRock by 1.6% in the first quarter. Van Cleef Asset Management Inc now owns 3,237 shares of the asset manager’s stock worth $1,241,000 after buying an additional 50 shares during the last quarter. Finally, Pinnacle Bank acquired a new position in shares of BlackRock during the first quarter worth about $202,000. 80.37% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc. (BLK) traded down 1.62% during mid-day trading on Thursday, hitting $424.37. 196,008 shares of the company traded hands. The firm has a market capitalization of $68.84 billion, a P/E ratio of 20.37 and a beta of 1.71. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84. The firm has a 50 day moving average of $427.95 and a 200 day moving average of $399.18.
BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $4.78 EPS. Equities research analysts expect 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. Investors of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. 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 dividend payout ratio (DPR) is presently 47.98%.
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A number of brokerages have issued reports on BLK. Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research report on Friday, July 14th. Morgan Stanley restated an “overweight” rating and set a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Wells Fargo & Company restated a “market perform” rating and set a $425.00 target price (up previously from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Deutsche Bank AG increased their target price on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research report on Tuesday, June 20th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $434.93.
In other BlackRock news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $202,990.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,772 shares of company stock worth $1,567,516 in the last ninety days. 1.86% of the stock is currently owned by 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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