Alerus Financial NA Trims Position in BlackRock, Inc. (NYSE:BLK)

Alerus Financial NA lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.5% in the second quarter, Holdings Channel reports. The institutional investor owned 2,394 shares of the asset manager’s stock after selling 88 shares during the quarter. Alerus Financial NA’s holdings in BlackRock were worth $2,095,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Princeton Capital Management LLC purchased a new position in shares of BlackRock during the second quarter worth about $213,000. Nicolet Bankshares Inc. grew its holdings in shares of BlackRock by 125.0% during the second quarter. Nicolet Bankshares Inc. now owns 810 shares of the asset manager’s stock worth $709,000 after purchasing an additional 450 shares in the last quarter. Vaughan David Investments LLC IL grew its holdings in shares of BlackRock by 0.6% during the second quarter. Vaughan David Investments LLC IL now owns 51,642 shares of the asset manager’s stock worth $45,185,000 after purchasing an additional 304 shares in the last quarter. BlackRock Inc. grew its holdings in shares of BlackRock by 0.6% during the second quarter. BlackRock Inc. now owns 9,903,465 shares of the asset manager’s stock worth $8,665,235,000 after purchasing an additional 56,702 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of BlackRock by 48.4% during the second quarter. Eagle Asset Management Inc. now owns 163,425 shares of the asset manager’s stock worth $142,992,000 after purchasing an additional 53,321 shares in the last quarter. 78.13% of the stock is owned by institutional investors.

Shares of BlackRock stock traded up $10.43 during midday trading on Wednesday, reaching $855.67. 1,154 shares of the company’s stock traded hands, compared to its average volume of 584,695. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $130.23 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. The stock has a 50 day moving average of $901.74 and a 200-day moving average of $853.04. BlackRock, Inc. has a 12 month low of $531.39 and a 12 month high of $959.89.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 13th. The asset manager reported $10.03 EPS for the quarter, beating analysts’ consensus estimates of $9.33 by $0.70. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.61 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The firm’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.85 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 38.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 22nd. Investors of record on Tuesday, September 7th will be issued a dividend of $4.13 per share. The ex-dividend date of this dividend is Friday, September 3rd. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.93%. BlackRock’s dividend payout ratio is presently 48.85%.

In other BlackRock news, General Counsel Christopher J. Meade sold 2,106 shares of the stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total value of $1,847,467.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Wiedman sold 175 shares of the stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $884.50, for a total value of $154,787.50. The disclosure for this sale can be found here. 1.16% of the stock is owned by corporate insiders.

Several brokerages have issued reports on BLK. Credit Suisse Group cut their target price on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Thursday, July 15th. UBS Group upped their target price on BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, July 8th. BMO Capital Markets upped their target price on BlackRock from $773.00 to $803.00 and gave the stock a “market perform” rating in a research note on Thursday, July 15th. Jefferies Financial Group upped their target price on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st. Finally, Argus upped their target price on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, July 15th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock presently has a consensus rating of “Buy” and an average price target of $953.31.

BlackRock Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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