BlackRock, Inc. (BLK) Stake Boosted by Markel Corp
Markel Corp boosted its position in BlackRock, Inc. (NYSE:BLK) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,000 shares of the asset manager’s stock after buying an additional 6,500 shares during the period. BlackRock comprises 1.6% of Markel Corp’s holdings, making the stock its 17th largest position. Markel Corp owned 0.11% of BlackRock worth $73,922,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC increased 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 increased 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 bought a new position in BlackRock during the first quarter worth about $108,000. Financial Architects Inc increased 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 increased 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 416.37 on Friday. The stock has a 50 day moving average of $426.79 and a 200 day moving average of $402.77. The company has a market cap of $67.54 billion, a price-to-earnings ratio of 19.99 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 quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $4.78 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post $21.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
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BLK has been the topic of a number of research reports. Jefferies Group LLC reiterated a “hold” rating and set a $387.00 target price on shares of BlackRock in a research report on Wednesday, May 17th. Bank of America Corporation reiterated 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 shares of 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. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Finally, Deutsche Bank AG boosted their target price on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $443.00.
In related news, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 484,386 shares in the company, valued at approximately $200,685,963.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction 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 a total of 3,272 shares of company stock valued at $1,364,526 over the last 90 days. 1.86% of the stock is currently owned by company 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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