Atria Investments LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,757 shares of the asset manager’s stock after buying an additional 602 shares during the period. Atria Investments LLC’s holdings in BlackRock were worth $2,009,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BLK. Proficio Capital Partners LLC raised its position in shares of 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 last quarter. Kings Point Capital Management raised its position in shares of 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 last quarter. State of Alaska Department of Revenue acquired a new position in shares of BlackRock during the first quarter valued at approximately $108,000. Peoples Financial Services CORP. acquired a new position in shares of BlackRock during the first quarter valued at approximately $115,000. Finally, Twin Tree Management LP raised its position in shares of 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 last quarter. 80.37% of the stock is owned by institutional investors.
Shares of BlackRock, Inc. (BLK) traded up 0.35% during mid-day trading on Friday, reaching $424.16. The company’s stock had a trading volume of 807,059 shares. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84. The company has a 50-day moving average price of $428.03 and a 200 day moving average price of $399.68. The company has a market cap of $68.80 billion, a PE ratio of 20.36 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 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.24% and a return on equity of 11.71%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.78 EPS. Equities analysts expect that BlackRock, Inc. will post $21.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.36%. BlackRock’s payout ratio is presently 47.98%.
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Several brokerages have recently commented on BLK. Morgan Stanley reissued an “overweight” rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $387.00 price objective on shares of BlackRock in a report on Wednesday, May 17th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Deutsche Bank AG restated a “buy” rating and issued a $441.00 target price (down previously from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Finally, Credit Suisse Group restated an “outperform” rating and issued a $534.00 target price on shares of BlackRock in a research report on Tuesday, July 18th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $434.93.
In other BlackRock news, Director Susan Wagner sold 2,500 shares of the business’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 sale, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeff A. Smith sold 522 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were 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. In the last quarter, insiders have sold 3,772 shares of company stock worth $1,567,516. Company 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.
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