Synovus Financial Corp lifted its position in BlackRock, Inc. (NYSE:BLK) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,444 shares of the asset manager’s stock after buying an additional 377 shares during the quarter. Synovus Financial Corp’s holdings in BlackRock were worth $1,876,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of BLK. Proficio Capital Partners LLC raised its holdings in shares of BlackRock by 48.9% in the 1st 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 period. Enterprise Financial Services Corp raised its holdings in shares of BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares during the period. Penserra Capital Management LLC purchased a new stake in shares of BlackRock in the 2nd quarter valued at $104,000. Kings Point Capital Management raised its holdings in shares of BlackRock by 34.5% in the 1st 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 period. Finally, Financial Architects Inc raised its holdings in shares of BlackRock by 0.7% in the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after buying an additional 2 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.
BLK has been the topic of several research analyst reports. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a report on Tuesday, June 20th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Deutsche Bank AG boosted their price objective on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a report on Monday, July 10th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and a consensus target price of $449.08.
In other news, insider Jeff A. Smith sold 522 shares of BlackRock stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,447 shares of company stock worth $1,855,015. Corporate insiders own 1.86% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) opened at 432.39 on Wednesday. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84. The firm has a market capitalization of $70.14 billion, a PE ratio of 20.75 and a beta of 1.71. The stock’s 50 day moving average price is $422.45 and its 200 day moving average price is $406.87.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Zacks’ consensus estimate of $5.39 by ($0.15). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.78 EPS. Analysts expect that BlackRock, Inc. will post $21.83 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 given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, August 31st. BlackRock’s payout ratio is 47.98%.
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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