Miles Capital Inc. decreased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 11.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 728 shares of the asset manager’s stock after selling 90 shares during the period. Miles Capital Inc.’s holdings in BlackRock were worth $279,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after buying an additional 250,431 shares during the period. Wells Fargo & Company MN boosted its position in shares of BlackRock by 4.1% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock valued at $782,896,000 after buying an additional 80,433 shares during the period. UBS Group AG boosted its position in shares of BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after buying an additional 486,502 shares during the period. Bank of New York Mellon Corp boosted its position in shares of BlackRock by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 1,333,110 shares of the asset manager’s stock valued at $511,260,000 after buying an additional 9,025 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of BlackRock by 8.3% in the first quarter. Geode Capital Management LLC now owns 1,166,937 shares of the asset manager’s stock valued at $446,886,000 after buying an additional 89,696 shares during the period. Institutional investors own 80.76% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) traded up 0.12% during mid-day trading on Friday, reaching $426.51. The company had a trading volume of 412,611 shares. The stock has a market cap of $69.18 billion, a PE ratio of 20.47 and a beta of 1.71. The firm’s 50-day moving average price is $427.11 and its 200-day moving average price is $397.31. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.83.
BlackRock (NYSE:BLK) last released its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. BlackRock’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $4.78 EPS. Equities research analysts forecast that BlackRock, Inc. will post $21.84 EPS for the current fiscal year.
The company 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 2.34%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
TRADEMARK VIOLATION NOTICE: “BlackRock, Inc. (BLK) Position Reduced by Miles Capital Inc.” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/08/05/miles-capital-inc-sells-90-shares-of-blackrock-inc-blk-updated.html.
Several equities analysts have recently issued reports on BLK shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research report on Friday, July 14th. Bank of America Corporation reiterated a “buy” rating and set a $450.00 price target on shares of BlackRock in a research report on Monday, June 19th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a research report on Tuesday, June 20th. Deutsche Bank AG lifted their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $425.00 target price (up from $380.00) on shares of BlackRock in a report on Wednesday, July 12th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $434.93.
In other news, insider Jeff A. Smith sold 250 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan Wagner sold 2,500 shares of the 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 transaction, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,772 shares of company stock valued at $1,567,516. Corporate insiders own 1.86% of the company’s stock.
About BlackRock
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.
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.
