Cambridge Trust Co. reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,381 shares of the asset manager’s stock after selling 107 shares during the period. Cambridge Trust Co.’s holdings in BlackRock were worth $16,635,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake 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 in the last quarter. BlackRock Inc. increased its stake in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after buying an additional 6,314,004 shares in the last quarter. State Street Corp increased its stake in shares of BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after buying an additional 112,993 shares in the last quarter. Wells Fargo & Company MN increased its stake 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 in the last quarter. Finally, UBS Group AG increased its stake 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 in the last quarter. Institutional investors own 82.76% of the company’s stock.
BlackRock, Inc. (BLK) opened at 416.37 on Monday. The firm’s 50 day moving average is $426.79 and its 200 day moving average is $402.77. The company has a market cap of $67.54 billion, a PE ratio of 19.99 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week 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 for the quarter, missing the consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.78 EPS. Analysts forecast that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The business 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 dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is presently 47.98%.
BLK has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research report on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and issued a $450.00 price target on shares of BlackRock in a research report 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 target on the stock in a research report on Tuesday, June 20th. Deutsche Bank AG raised their price target on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $425.00 price target (up previously from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and an average price target of $443.00.
In other BlackRock news, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $200,685,963.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was 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. In the last three months, insiders have sold 3,272 shares of company stock worth $1,364,526. 1.86% of the stock is owned by insiders.
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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