Ferguson Wellman Capital Management Inc. Sells 13,950 Shares of BlackRock, Inc. (BLK)
Ferguson Wellman Capital Management Inc. reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 26.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,482 shares of the asset manager’s stock after selling 13,950 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in BlackRock were worth $16,678,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Proficio Capital Partners LLC boosted its position in 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 position in 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 position in BlackRock during the first quarter worth $108,000. Financial Architects Inc boosted its position in 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 during the last quarter. Finally, Twin Tree Management LP boosted its position in 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. Hedge funds and other institutional investors own 80.33% of the company’s stock.
Shares of BlackRock, Inc. (BLK) opened at 416.55 on Friday. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84. The firm has a market cap of $67.57 billion, a price-to-earnings ratio of 19.99 and a beta of 1.71. The firm has a 50 day moving average of $428.07 and a 200 day moving average of $401.25.
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 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 for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm posted $4.78 earnings per share. BlackRock’s revenue was up 5.7% on a year-over-year basis. Equities analysts predict that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The company also recently declared 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 is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.40%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
A number of research firms have weighed in on BLK. Morgan Stanley reissued an “overweight” rating and issued a $460.00 price objective (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 price target on shares of BlackRock in a research report on Wednesday, May 17th. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $441.00 price target (down previously from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $534.00 price target on shares of BlackRock in a research report on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $443.00.
In other BlackRock news, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares in the company, valued at $200,685,963.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,772 shares of company stock worth $1,567,516. Company insiders own 1.86% of the company’s stock.
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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Stock Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related stocks with our FREE daily email newsletter.