Papp L Roy & Associates decreased its position in BlackRock, Inc. (NYSE:BLK) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,674 shares of the asset manager’s stock after selling 815 shares during the period. BlackRock makes up about 4.5% of Papp L Roy & Associates’ holdings, making the stock its 2nd largest position. Papp L Roy & Associates’ holdings in BlackRock were worth $20,983,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC increased 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 last quarter. Kings Point Capital Management increased 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 last quarter. State of Alaska Department of Revenue purchased a new position in BlackRock during the first quarter worth about $108,000. Financial Architects Inc increased its position in BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after buying an additional 2 shares during the last quarter. Finally, Twin Tree Management LP increased 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 last quarter. 80.33% of the stock is currently owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (BLK) opened at 416.37 on Friday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.83. The firm has a 50-day moving average price of $426.79 and a 200-day moving average price of $402.77. The stock has a market capitalization of $67.54 billion, a PE ratio of 19.99 and a beta of 1.71.
BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.39 by $0.15. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.78 earnings per share. On average, equities research analysts forecast that BlackRock, Inc. will post $21.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders 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 dividend yield of 2.40%. BlackRock’s dividend payout ratio is presently 47.98%.
WARNING: “Papp L Roy & Associates Sells 815 Shares of BlackRock, Inc. (BLK)” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://stocknewstimes.com/2017/08/26/papp-l-roy-associates-sells-815-shares-of-blackrock-inc-blk.html.
A number of research firms have recently issued reports on BLK. Jefferies Group LLC reissued a “hold” rating and set a $387.00 price target on shares of BlackRock in a research report on Wednesday, May 17th. Morgan Stanley restated an “overweight” rating and set a $460.00 price objective (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG restated a “buy” rating and set a $455.00 price objective (down from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Credit Suisse Group restated an “outperform” rating and set a $534.00 price objective on shares of BlackRock in a research note on Tuesday, July 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $443.00.
In other news, 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 sale, the director now directly owns 484,386 shares in the company, valued at $200,685,963.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Insiders have sold 3,272 shares of company stock valued at $1,364,526 over the last 90 days. 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.
