Cullen Frost Bankers Inc. decreased its position in BlackRock, Inc. (NYSE:BLK) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,847 shares of the asset manager’s stock after selling 1,112 shares during the period. Cullen Frost Bankers Inc.’s holdings in BlackRock were worth $23,590,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BLK. Fisher Asset Management LLC increased its stake in shares of BlackRock by 44.1% in the first quarter. Fisher Asset Management LLC now owns 108,774 shares of the asset manager’s stock worth $41,716,000 after buying an additional 33,283 shares in the last quarter. Harwood Advisory Group LLC increased its stake in shares of BlackRock by 9.9% in the first quarter. Harwood Advisory Group LLC now owns 5,043 shares of the asset manager’s stock worth $1,934,000 after buying an additional 454 shares in the last quarter. UMB Bank N A MO increased its stake in shares of BlackRock by 10.3% in the first quarter. UMB Bank N A MO now owns 37,536 shares of the asset manager’s stock worth $14,395,000 after buying an additional 3,490 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of BlackRock by 22.0% in the first quarter. Rehmann Capital Advisory Group now owns 2,315 shares of the asset manager’s stock worth $888,000 after buying an additional 418 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in shares of BlackRock by 4.6% in the first quarter. Sigma Planning Corp now owns 1,382 shares of the asset manager’s stock worth $530,000 after buying an additional 61 shares in the last quarter. 82.76% of the stock is currently owned by institutional investors and hedge funds.

BlackRock, Inc. (BLK) opened at 416.37 on Monday. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.83. The company has a market capitalization of $67.54 billion, a price-to-earnings ratio of 19.99 and a beta of 1.71. The company’s 50-day moving average price is $426.79 and its 200 day moving average price is $402.77.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the business earned $4.78 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts forecast 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 paid a $2.50 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.40%. BlackRock’s payout ratio is currently 47.98%.

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BLK has been the topic of a number of research analyst reports. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $476.00 target price (up previously from $460.00) on shares of BlackRock in a report on Tuesday, July 18th. Bank of America Corporation reaffirmed a “buy” rating and issued a $450.00 target price on shares of BlackRock in a report on Monday, June 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 target price on shares of BlackRock in a report on Friday, July 14th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $425.00 target price (up previously from $380.00) on shares of BlackRock in a report on Wednesday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $443.00.

In other BlackRock news, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan Wagner sold 2,500 shares of BlackRock 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 transaction, the director now directly owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. Insiders sold a total of 3,272 shares of company stock valued at $1,364,526 over the last three months. Corporate insiders own 1.86% of the company’s stock.

About BlackRock

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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