CrestPoint Capital Management LLC Has $380,000 Position in BlackRock, Inc. (NYSE:BLK)

CrestPoint Capital Management LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 28.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLK. Proficio Capital Partners LLC raised 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 valued at $103,000 after buying an additional 85 shares during the period. Kings Point Capital Management raised 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 valued at $105,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue acquired a new position in BlackRock during the first quarter valued at about $108,000. Peoples Financial Services CORP. acquired a new position in BlackRock during the first quarter valued at about $115,000. Finally, Twin Tree Management LP raised 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 valued at $132,000 after buying an additional 1,443 shares during the period. 80.92% of the stock is owned by hedge funds and other institutional investors.

Shares of BlackRock, Inc. (NYSE:BLK) traded down 0.35% during trading on Friday, reaching $424.00. 445,234 shares of the company traded hands. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.83. The firm has a market capitalization of $68.78 billion, a price-to-earnings ratio of 20.35 and a beta of 1.71. The company has a 50 day moving average price of $426.54 and a 200 day moving average price of $396.36.

BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share 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 business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $4.78 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts predict that BlackRock, Inc. will post $21.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s payout ratio is 47.98%.

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BLK has been the topic of several research analyst reports. Deutsche Bank AG upped their price objective on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a research note on Tuesday, June 20th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $425.00 price objective (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. BlackRock presently has an average rating of “Buy” and a consensus target price of $434.93.

In other news, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,772 shares of company stock worth $1,567,516 over the last three months. Insiders own 1.86% of the company’s stock.

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.