Bessemer Group Inc. Has $1.95 Million Stake in BlackRock, Inc. (BLK)
Bessemer Group Inc. lowered its stake in BlackRock, Inc. (NYSE:BLK) by 44.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,611 shares of the asset manager’s stock after selling 3,692 shares during the period. Bessemer Group Inc.’s holdings in BlackRock were worth $1,948,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. Exchange Capital Management Inc. raised its stake in BlackRock by 6.0% in the second quarter. Exchange Capital Management Inc. now owns 12,665 shares of the asset manager’s stock valued at $5,350,000 after buying an additional 714 shares during the period. Lyell Wealth Management LP raised its stake in BlackRock by 7.8% in the second quarter. Lyell Wealth Management LP now owns 9,772 shares of the asset manager’s stock valued at $4,128,000 after buying an additional 711 shares during the period. CAPROCK Group Inc. raised its stake in BlackRock by 50.2% in the second quarter. CAPROCK Group Inc. now owns 1,404 shares of the asset manager’s stock valued at $593,000 after buying an additional 469 shares during the period. Pillar Pacific Capital Management LLC raised its stake in BlackRock by 0.3% in the second quarter. Pillar Pacific Capital Management LLC now owns 17,136 shares of the asset manager’s stock valued at $7,239,000 after buying an additional 59 shares during the period. Finally, Klingenstein Fields & Co. LLC bought a new stake in BlackRock during the second quarter valued at about $257,000. 80.33% of the stock is currently owned by institutional investors.
Shares of BlackRock, Inc. (NYSE BLK) opened at 418.07 on Thursday. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.83. The firm has a market capitalization of $67.81 billion, a price-to-earnings ratio of 20.07 and a beta of 1.71. The stock’s 50 day moving average price is $427.39 and its 200-day moving average price is $402.40.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $4.78 earnings per share. The company’s revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post $21.85 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.39%. BlackRock’s payout ratio is currently 47.98%.
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Several analysts have recently issued reports on the company. BidaskClub lowered BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, August 18th. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $476.00 price objective (up from $460.00) on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $455.00 price objective (down from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $443.00.
In other BlackRock news, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Insiders have sold 3,772 shares of company stock worth $1,567,516 over the last three months. 1.86% of the stock is currently 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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