Chesley Taft & Associates LLC Raises Stake in BlackRock, Inc. (BLK)
Chesley Taft & Associates LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,283 shares of the asset manager’s stock after buying an additional 47 shares during the period. Chesley Taft & Associates LLC’s holdings in BlackRock were worth $4,766,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of BLK. Proficio Capital Partners LLC boosted its stake 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 during the last quarter. Kings Point Capital Management boosted its stake 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 during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of BlackRock during the first quarter worth about $108,000. Twin Tree Management LP boosted its stake in shares of BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock worth $132,000 after buying an additional 1,443 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of BlackRock by 70.2% in the second quarter. NEXT Financial Group Inc now owns 388 shares of the asset manager’s stock worth $164,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 80.33% of the company’s stock.
BlackRock, Inc. (BLK) traded down 0.5373% during trading on Friday, hitting $417.6838. The stock had a trading volume of 404,900 shares. The company’s 50-day moving average is $428.26 and its 200 day moving average is $400.96. The firm has a market cap of $67.75 billion, a PE ratio of 20.0482 and a beta of 1.71. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $3.01 billion. During the same quarter in the previous year, the firm posted $4.78 EPS. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts expect that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.38%. BlackRock’s payout ratio is 47.98%.
A number of analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and set a $440.00 target price on shares of BlackRock in a report on Friday. BidaskClub cut BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG boosted their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a report on Tuesday, June 20th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $534.00 price target on shares of BlackRock in a report on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $443.00.
In other BlackRock news, insider Mark Mccombe sold 500 shares of BlackRock stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares of the company’s stock, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,772 shares of company stock valued at $1,567,516. Corporate 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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