Willingdon Wealth Management Grows Position in BlackRock, Inc. (BLK)
Willingdon Wealth Management increased its stake in BlackRock, Inc. (NYSE:BLK) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,097 shares of the asset manager’s stock after buying an additional 121 shares during the period. BlackRock accounts for 1.2% of Willingdon Wealth Management’s portfolio, making the stock its 25th largest position. Willingdon Wealth Management’s holdings in BlackRock were worth $2,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in BLK. BlackRock Inc. raised its stake in BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in BlackRock by 38,807.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after buying an additional 1,199,932 shares in the last quarter. UBS Group AG raised its stake in BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after buying an additional 486,502 shares in the last quarter. Vanguard Group Inc. raised its stake in BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after buying an additional 250,431 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock worth $597,206,000 after buying an additional 118,222 shares in the last quarter. 82.77% of the stock is owned by institutional investors.
In related news, insider Jeff A. Smith sold 250 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,447 shares of company stock valued at $1,855,015. 1.86% of the stock is currently owned by company insiders.
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Shares of BlackRock, Inc. (NYSE:BLK) opened at 428.57 on Wednesday. The stock has a market cap of $69.52 billion, a PE ratio of 20.57 and a beta of 1.71. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84. The stock’s 50 day moving average is $422.40 and its 200-day moving average is $405.26.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 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 the consensus estimate 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 quarter last year, the firm earned $4.78 EPS. Equities analysts expect that BlackRock, Inc. will post $21.82 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.33%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
BLK has been the subject of a number of research reports. Jefferies Group LLC reissued a “hold” rating and issued a $387.00 price target on shares of BlackRock in a research note on Wednesday, May 17th. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective on the stock in a report on Tuesday, June 20th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Finally, Deutsche Bank AG upped their price objective on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $449.08.
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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