BlackRock, Inc. (BLK) Shares Bought by Advisors Asset Management Inc.
Advisors Asset Management Inc. boosted its position in BlackRock, Inc. (NYSE:BLK) by 9.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,694 shares of the asset manager’s stock after buying an additional 5,120 shares during the period. Advisors Asset Management Inc.’s holdings in BlackRock were worth $23,948,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of BLK. Stifel Financial Corp raised its position in shares of BlackRock by 19.1% in the first quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after buying an additional 27,321 shares during the period. KBC Group NV raised its position in shares of BlackRock by 35.1% in the first quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after buying an additional 13,065 shares during the period. Kanawha Capital Management LLC raised its position in shares of BlackRock by 7.1% in the first quarter. Kanawha Capital Management LLC now owns 2,568 shares of the asset manager’s stock worth $985,000 after buying an additional 170 shares during the period. Rafferty Asset Management LLC raised its position in shares of BlackRock by 260.6% in the first quarter. Rafferty Asset Management LLC now owns 22,709 shares of the asset manager’s stock worth $8,709,000 after buying an additional 16,411 shares during the period. Finally, Ingalls & Snyder LLC raised its position in shares of BlackRock by 94.7% in the first quarter. Ingalls & Snyder LLC now owns 1,970 shares of the asset manager’s stock worth $756,000 after buying an additional 958 shares during the period. Institutional investors own 82.76% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) opened at 421.78 on Friday. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84. The firm has a market capitalization of $68.42 billion, a PE ratio of 20.24 and a beta of 1.71. The company has a 50-day moving average price of $424.33 and a 200 day moving average price of $404.11.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.39 by $0.15. The firm 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%. During the same period in the prior year, the company earned $4.78 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts expect that BlackRock, Inc. will post $21.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued 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 yield of 2.37%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
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A number of equities analysts recently issued reports on BLK shares. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Morgan Stanley restated an “overweight” rating and issued a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research note on Friday, July 14th. Finally, Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and a consensus target price of $443.00.
In other BlackRock news, insider Jeff A. Smith sold 522 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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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