Morgan Stanley Sells 543,724 Shares of BlackRock, Inc. (BLK)
Morgan Stanley cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 24.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,683,577 shares of the asset manager’s stock after selling 543,724 shares during the period. Morgan Stanley owned 1.03% of BlackRock worth $645,669,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of BLK. Kings Point Capital Management increased 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 valued at $105,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of BlackRock during the first quarter valued at $108,000. Peoples Financial Services CORP. acquired a new stake in shares of BlackRock during the first quarter valued at $115,000. Twin Tree Management LP increased 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 valued at $132,000 after buying an additional 1,443 shares during the last quarter. Finally, Adirondack Trust Co. increased its stake in shares of BlackRock by 7.1% in the first quarter. Adirondack Trust Co. now owns 450 shares of the asset manager’s stock valued at $172,000 after buying an additional 30 shares during the last quarter. 80.33% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (BLK) traded down 0.81% during trading on Friday, hitting $416.55. The stock had a trading volume of 1,015,041 shares. The stock has a market cap of $67.57 billion, a price-to-earnings ratio of 19.99 and a beta of 1.71. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84. The stock’s 50-day moving average is $428.07 and its 200-day moving average is $401.25.
BlackRock (NYSE:BLK) last announced 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. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the company posted $4.78 EPS. BlackRock’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that BlackRock, Inc. will post $21.85 EPS 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 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 dividend yield of 2.40%. BlackRock’s dividend payout ratio (DPR) is 47.98%.
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Several equities research analysts have recently weighed in on BLK shares. Deutsche Bank AG reiterated a “buy” rating and issued a $455.00 price target (down from $465.00) on shares of BlackRock in a report on Tuesday, July 18th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a report on Tuesday, June 20th. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 price target on shares of BlackRock in a report on Monday, June 19th. BidaskClub downgraded BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC restated a “hold” rating and set a $387.00 price objective on shares of BlackRock in a report on Wednesday, May 17th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $443.00.
In related news, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 484,386 shares in the company, valued at $200,685,963.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jeff A. Smith sold 250 shares of the stock in a transaction dated Wednesday, July 26th. The shares were 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 90 days, insiders sold 3,772 shares of company stock valued at $1,567,516. 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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