BlackRock, Inc. (BLK) Shares Bought by National Planning Corp
National Planning Corp boosted its stake in BlackRock, Inc. (NYSE:BLK) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,076 shares of the asset manager’s stock after buying an additional 84 shares during the period. National Planning Corp’s holdings in BlackRock were worth $461,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in BLK. Enterprise Financial Services Corp raised its stake in shares of BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares in the last quarter. Proficio Capital Partners LLC raised its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares in the last quarter. Kings Point Capital Management raised 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 in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of BlackRock during the first quarter valued at approximately $108,000. Finally, Financial Architects Inc raised its stake in shares of BlackRock by 0.7% in the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after buying an additional 2 shares in the last quarter. Institutional investors own 82.76% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) opened at 416.20 on Thursday. The company has a 50-day moving average price of $426.79 and a 200-day moving average price of $402.77. The stock has a market cap of $67.51 billion, a P/E ratio of 19.98 and a beta of 1.71. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83.
BlackRock (NYSE:BLK) last released its quarterly earnings results 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. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.78 earnings per share. On average, analysts anticipate that BlackRock, Inc. will post $21.85 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. 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 presently 47.98%.
Several equities research analysts have commented on the company. Jefferies Group LLC restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Tuesday. BidaskClub downgraded BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Deutsche Bank AG upped their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research report on Tuesday, June 20th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $443.00.
In other BlackRock news, insider Jeff A. Smith sold 250 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan Wagner sold 2,500 shares of the 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 transaction, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,272 shares of company stock worth $1,364,526. Company insiders own 1.86% of the company’s stock.
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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