Leavell Investment Management Inc. Purchases New Position in BlackRock, Inc. (BLK)
Leavell Investment Management Inc. purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 497 shares of the asset manager’s stock, valued at approximately $210,000.
A number of other large investors also recently made changes to their positions in BLK. BlackRock Inc. boosted its stake in BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares during the period. UBS Group AG boosted its stake in BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after buying an additional 486,502 shares during the period. Vanguard Group Inc. boosted its stake in BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after buying an additional 250,431 shares during the period. Clearbridge Investments LLC boosted its stake in BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock worth $597,206,000 after buying an additional 118,222 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in BlackRock by 134.9% in the first quarter. Renaissance Technologies LLC now owns 199,968 shares of the asset manager’s stock worth $76,690,000 after buying an additional 114,854 shares during the period. 80.33% of the stock is currently owned by institutional investors.
BlackRock, Inc. (NYSE:BLK) traded down 0.47% during midday trading on Thursday, reaching $425.08. The company had a trading volume of 109,322 shares. The firm’s 50 day moving average is $428.46 and its 200 day moving average is $400.82. The stock has a market capitalization of $68.95 billion, a PE ratio of 20.40 and a beta of 1.71. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.83.
BlackRock (NYSE:BLK) last issued its earnings results 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. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the business posted $4.78 EPS. The business’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate 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. Stockholders of record on Tuesday, September 5th will be paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is presently 47.98%.
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A number of equities research analysts have recently commented on BLK shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research report on Friday, July 14th. Bank of America Corporation restated a “buy” rating and set a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research report on Tuesday, June 20th. Deutsche Bank AG raised their target price on 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 restated a “market perform” rating and set a $425.00 target price (up from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock has an average rating of “Buy” and a consensus price target of $438.92.
In other news, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $405.98, for a total transaction of $202,990.00. The disclosure for this sale can be found here. In the last three months, insiders sold 3,772 shares of company stock worth $1,567,516. Insiders own 1.86% of the company’s stock.
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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