CrestPoint Capital Management LLC increased its position in BlackRock, Inc. (NYSE:BLK) by 28.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 900 shares of the asset manager’s stock after buying an additional 200 shares during the period. CrestPoint Capital Management LLC’s holdings in BlackRock were worth $380,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of BLK. Proficio Capital Partners LLC boosted its position in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the period. Kings Point Capital Management boosted its position in BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue bought a new position in BlackRock during the first quarter worth $108,000. Peoples Financial Services CORP. bought a new position in BlackRock during the first quarter worth $115,000. Finally, Twin Tree Management LP boosted its position in BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock worth $132,000 after buying an additional 1,443 shares during the period. 80.85% of the stock is currently owned by institutional investors and hedge funds.
BlackRock, Inc. (BLK) opened at 426.46 on Thursday. The firm has a 50-day moving average of $423.59 and a 200-day moving average of $394.28. The stock has a market capitalization of $69.46 billion, a price-to-earnings ratio of 20.47 and a beta of 1.71. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84.
BlackRock (NYSE:BLK) last announced its 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. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the business posted $4.78 earnings per share. BlackRock’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post $21.90 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Monday, June 5th were issued a $2.50 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $10.00 dividend on an annualized basis and a yield of 2.34%. BlackRock’s dividend payout ratio is currently 47.98%.
COPYRIGHT VIOLATION WARNING: This piece was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/07/20/blackrock-inc-nyseblk-stake-boosted-by-crestpoint-capital-management-llc.html.
A number of equities analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $460.00 price target (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 price target on shares of BlackRock in a research note on Wednesday, May 17th. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $441.00 price target (down from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $534.00 price target on shares of BlackRock in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and a consensus target price of $434.93.
In related news, insider Jeff A. Smith sold 522 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,522 shares of company stock worth $1,458,798. 1.86% of the stock is owned by 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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
