BlackRock, Inc. (BLK) Position Lowered by Wellington Shields Capital Management LLC
Wellington Shields Capital Management LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 52.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,066 shares of the asset manager’s stock after selling 2,305 shares during the period. Wellington Shields Capital Management LLC’s holdings in BlackRock were worth $873,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in BLK. Proficio Capital Partners LLC increased 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 worth $103,000 after buying an additional 85 shares in the last quarter. Kings Point Capital Management increased 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 worth $105,000 after buying an additional 70 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of BlackRock during the first quarter worth approximately $108,000. Peoples Financial Services CORP. acquired a new position in shares of BlackRock during the first quarter worth approximately $115,000. Finally, Financial Architects Inc increased its position in shares of 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 in the last quarter. Institutional investors own 80.33% of the company’s stock.
BlackRock, Inc. (NYSE BLK) traded up 1.024% during midday trading on Monday, hitting $428.505. The stock had a trading volume of 201,827 shares. The stock has a market cap of $69.51 billion, a PE ratio of 20.568 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84. The company’s 50 day moving average price is $428.03 and its 200-day moving average price is $399.68.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $4.78 earnings per share. Analysts forecast that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors 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 dividend payout ratio (DPR) is 47.98%.
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A number of equities analysts recently commented on the company. Morgan Stanley restated 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. Jefferies Group LLC restated a “hold” rating and set a $387.00 target price on shares of BlackRock in a report on Wednesday, May 17th. BidaskClub upgraded 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 set a $441.00 target price (down previously from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $534.00 target price on shares of BlackRock in a report on Tuesday, July 18th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target 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 Mark Mccombe sold 500 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,772 shares of company stock worth $1,567,516. 1.86% of the stock is owned by company 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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