Morningstar Investment Services LLC Acquires 2,185 Shares of BlackRock, Inc. (BLK)
Morningstar Investment Services LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,308 shares of the asset manager’s stock after buying an additional 2,185 shares during the period. Morningstar Investment Services LLC’s holdings in BlackRock were worth $11,958,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its position in shares of BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 85 shares in the last quarter. Enterprise Financial Services Corp lifted its position in shares of BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 85 shares in the last quarter. Kings Point Capital Management lifted its position in shares of BlackRock by 34.5% during the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 70 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of BlackRock during the first quarter valued at about $108,000. Finally, Financial Architects Inc lifted its position in shares of BlackRock by 0.7% during the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after purchasing an additional 2 shares in the last quarter. 82.77% of the stock is currently owned by hedge funds and other institutional investors.
In related 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 value of $108,717.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.86% of the company’s stock.
A number of research analysts recently weighed in on BLK shares. Jefferies Group LLC reissued a “hold” rating and set a $387.00 price target on shares of BlackRock in a research report on Wednesday, May 17th. Bank of America Corporation reissued a “buy” rating and set a $450.00 price target on shares of BlackRock in a research report on Monday, June 19th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a research report on Tuesday, June 20th. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Finally, Deutsche Bank AG raised their price target 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $443.00.
BlackRock, Inc. (BLK) opened at 421.78 on Monday. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.83. The stock has a market cap of $68.42 billion, a PE ratio of 20.24 and a beta of 1.71. The company’s 50-day moving average is $424.33 and its 200 day moving average is $404.11.
BlackRock (NYSE:BLK) last released its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. The firm had revenue of $2.97 billion during 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 was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $4.78 earnings per share. On average, analysts expect that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is 47.98%.
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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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