IFP Advisors Inc increased its position in BlackRock, Inc. (NYSE:BLK) by 8.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,401 shares of the asset manager’s stock after buying an additional 197 shares during the period. IFP Advisors Inc’s holdings in BlackRock were worth $1,014,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of BLK. Fisher Asset Management LLC raised its position in shares of BlackRock by 44.1% in the first quarter. Fisher Asset Management LLC now owns 108,774 shares of the asset manager’s stock worth $41,716,000 after buying an additional 33,283 shares during the last quarter. Stifel Financial Corp raised its position in shares of BlackRock by 19.1% in the first quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after buying an additional 27,321 shares during the last quarter. KBC Group NV raised its position in shares of BlackRock by 35.1% in the first quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after buying an additional 13,065 shares during the last quarter. Van Cleef Asset Management Inc raised its position in shares of BlackRock by 1.6% in the first quarter. Van Cleef Asset Management Inc now owns 3,237 shares of the asset manager’s stock worth $1,241,000 after buying an additional 50 shares during the last quarter. Finally, Kanawha Capital Management LLC raised its position in shares of BlackRock by 7.1% in the first quarter. Kanawha Capital Management LLC now owns 2,568 shares of the asset manager’s stock worth $985,000 after buying an additional 170 shares during the last quarter. 82.76% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE:BLK) opened at 416.37 on Monday. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.83. The company’s 50-day moving average is $426.79 and its 200-day moving average is $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 released 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 firm had revenue of $2.97 billion during 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 business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.78 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post $21.85 EPS for the current 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 given a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.40%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
Several research firms recently commented on BLK. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $460.00 target price (up previously from $422.00) on shares of BlackRock in a report on Monday, July 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $440.00 target price on shares of BlackRock in a report on Friday, July 14th. Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $425.00 target price (up previously 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 eight have issued a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and a consensus price target of $443.00.
In other news, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total transaction of $108,717.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $1,035,775.00. Following the transaction, the director now directly owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,272 shares of company stock valued at $1,364,526. 1.86% of the stock is currently owned by corporate insiders.
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.
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