Edgemoor Investment Advisors Inc. Purchases 266 Shares of BlackRock, Inc. (BLK)
Edgemoor Investment Advisors Inc. boosted its position in BlackRock, Inc. (NYSE:BLK) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,262 shares of the asset manager’s stock after acquiring an additional 266 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in BlackRock were worth $8,559,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Stifel Financial Corp lifted its holdings 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 valued at $65,487,000 after purchasing an additional 27,321 shares in the last quarter. KBC Group NV lifted its holdings 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 valued at $19,284,000 after purchasing an additional 13,065 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of BlackRock by 48.9% in the second quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock valued at $42,960,000 after purchasing an additional 33,400 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings 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 valued at $8,709,000 after purchasing an additional 16,411 shares in the last quarter. Finally, Everett Harris & Co. CA lifted its holdings in shares of BlackRock by 9.2% in the second quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock valued at $42,301,000 after purchasing an additional 8,478 shares in the last quarter. Institutional investors and hedge funds own 82.77% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) opened at 415.95 on Friday. The firm has a 50-day moving average price of $422.53 and a 200-day moving average price of $404.80. The stock has a market capitalization of $67.47 billion, a P/E ratio of 19.96 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84.
BlackRock (NYSE:BLK) last released its quarterly earnings data 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 business 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 business’s revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $4.78 earnings per share. On average, analysts predict that BlackRock, Inc. will post $21.85 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.40%. BlackRock’s payout ratio is 47.98%.
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In other news, insider Jeff A. Smith sold 250 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total transaction of $108,717.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold a total of 4,447 shares of company stock worth $1,855,015 over the last three months. Insiders own 1.86% of the company’s stock.
BLK has been the topic of a number of recent research reports. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a report 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 report on Monday, July 10th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $440.00 target price on shares of BlackRock in a report on Friday, July 14th. Finally, Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $449.08.
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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