LS Investment Advisors LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,351 shares of the asset manager’s stock after selling 176 shares during the period. BlackRock makes up approximately 1.0% of LS Investment Advisors LLC’s portfolio, making the stock its 20th largest position. LS Investment Advisors LLC’s holdings in BlackRock were worth $15,777,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Middleton & Co Inc MA raised its stake in shares of BlackRock by 22.0% in the second quarter. Middleton & Co Inc MA now owns 11,201 shares of the asset manager’s stock worth $4,731,000 after buying an additional 2,023 shares in the last quarter. Canal Capital Management LLC increased its position in BlackRock by 23.3% in the second quarter. Canal Capital Management LLC now owns 3,106 shares of the asset manager’s stock worth $1,312,000 after buying an additional 587 shares during the last quarter. TNB Financial increased its position in BlackRock by 26.1% in the second quarter. TNB Financial now owns 1,092 shares of the asset manager’s stock worth $461,000 after buying an additional 226 shares during the last quarter. Windward Capital Management Co. CA increased its position in BlackRock by 1.8% in the second quarter. Windward Capital Management Co. CA now owns 46,836 shares of the asset manager’s stock worth $19,784,000 after buying an additional 842 shares during the last quarter. Finally, Peoples Financial Services CORP. increased its position in BlackRock by 66.7% in the second quarter. Peoples Financial Services CORP. now owns 500 shares of the asset manager’s stock worth $211,000 after buying an additional 200 shares during the last quarter. 80.37% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc. (BLK) traded up 0.35% during mid-day trading on Friday, reaching $424.16. The company had a trading volume of 807,059 shares. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83. The firm has a market capitalization of $68.80 billion, a P/E ratio of 20.36 and a beta of 1.71. The firm’s 50-day moving average is $428.03 and its 200-day moving average is $399.68.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the company posted $4.78 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.36%. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
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BLK has been the topic of a number of research reports. Deutsche Bank AG restated a “buy” rating and set a $441.00 target price (down from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Morgan Stanley restated an “overweight” rating and set a $460.00 target price (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Bank of America Corporation restated a “buy” rating and set a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Finally, 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. 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 an average rating of “Buy” and a consensus price target of $434.93.
In related news, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeff A. Smith sold 522 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock valued at $1,567,516 in the last quarter. 1.86% of the stock is currently owned by corporate insiders.
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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