DnB Asset Management AS boosted its stake in BlackRock, Inc. (NYSE:BLK) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,141 shares of the asset manager’s stock after buying an additional 300 shares during the period. DnB Asset Management AS’s holdings in BlackRock were worth $5,551,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted 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 valued at $41,716,000 after buying an additional 33,283 shares during the last quarter. Stifel Financial Corp raised its stake in BlackRock by 19.1% in the first quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock valued at $65,487,000 after buying an additional 27,321 shares during the period. KBC Group NV raised its stake in BlackRock by 35.1% in the first quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock valued at $19,284,000 after buying an additional 13,065 shares during the period. Van Cleef Asset Management Inc raised its stake in BlackRock by 1.6% in the first quarter. Van Cleef Asset Management Inc now owns 3,237 shares of the asset manager’s stock valued at $1,241,000 after buying an additional 50 shares during the period. Finally, Pinnacle Bank bought a new stake in BlackRock during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) opened at 416.55 on Friday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84. The company’s 50-day moving average price is $428.07 and its 200 day moving average price is $401.25. The firm has a market capitalization of $67.57 billion, a PE ratio of 19.99 and a beta of 1.71.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $4.78 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post $21.85 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.40%. BlackRock’s dividend payout ratio (DPR) is 47.98%.
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BLK has been the topic of several analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $455.00 target price (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a report on Tuesday, June 20th. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. BidaskClub downgraded BlackRock from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $387.00 price objective on shares of BlackRock in a research report on Wednesday, May 17th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $443.00.
In related news, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the completion of the transaction, the director now directly owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. Insiders sold 3,772 shares of company stock valued at $1,567,516 over the last quarter. Insiders own 1.86% of the company’s stock.
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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