Baird Financial Group Inc. boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,368 shares of the asset manager’s stock after buying an additional 450 shares during the period. Baird Financial Group Inc. owned approximately 0.12% of BlackRock worth $163,941,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of BLK. Column Capital Advisors LLC increased its position in BlackRock by 24,840.7% during the 1st quarter. Column Capital Advisors LLC now owns 2,703,325 shares of the asset manager’s stock valued at $2,703,000 after buying an additional 2,692,486 shares in the last quarter. BlackRock Inc. boosted its stake in BlackRock by 1.5% during the 1st quarter. BlackRock Inc. now owns 9,846,763 shares of the asset manager’s stock valued at $7,424,066,000 after purchasing an additional 147,821 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in BlackRock during the 2nd quarter valued at $82,772,000. M&G Investment Management Ltd. boosted its stake in BlackRock by 206.3% during the 1st quarter. M&G Investment Management Ltd. now owns 160,838 shares of the asset manager’s stock valued at $121,272,000 after purchasing an additional 108,322 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in BlackRock by 98.8% during the 2nd quarter. Toronto Dominion Bank now owns 192,225 shares of the asset manager’s stock valued at $87,487,000 after purchasing an additional 95,552 shares during the last quarter. 78.13% of the stock is owned by institutional investors.
In other news, General Counsel Christopher J. Meade sold 2,106 shares of BlackRock stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total value of $1,847,467.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 175 shares of BlackRock stock in a transaction dated 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 company insiders.
BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, July 13th. The asset manager reported $10.03 EPS for the quarter, topping the Zacks’ consensus estimate of $9.33 by $0.70. The company had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.61 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. BlackRock’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $7.85 EPS. On average, analysts predict that BlackRock, Inc. will post 38.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th will be issued a dividend of $4.13 per share. The ex-dividend date is Friday, September 3rd. This represents a $16.52 dividend on an annualized basis and a yield of 1.93%. BlackRock’s dividend payout ratio is presently 48.85%.
Several analysts have commented on BLK shares. Evercore ISI reiterated a “buy” rating on shares of BlackRock in a research note on Sunday, June 6th. Credit Suisse Group cut their target price on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating on the stock in a research note on Thursday, July 15th. Citigroup raised their price target on BlackRock from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. UBS Group raised their price target on BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, July 8th. Finally, Jefferies Financial Group raised their price target 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $953.31.
BlackRock Company 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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