Kings Point Capital Management lifted its stake in BlackRock, Inc. (NYSE:BLK) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 295 shares of the asset manager’s stock after buying an additional 22 shares during the period. Kings Point Capital Management’s holdings in BlackRock were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BLK. BlackRock Inc. boosted its stake in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after buying an additional 6,314,004 shares during the period. Harbour Capital Advisors LLC boosted its stake in shares of 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 valued at $2,848,000 after buying an additional 1,199,932 shares during the period. UBS Group AG boosted its stake in shares of BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after buying an additional 486,502 shares during the period. Vanguard Group Inc. boosted its stake in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after buying an additional 250,431 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock valued at $597,206,000 after buying an additional 118,222 shares during the period. Institutional investors and hedge funds own 82.77% of the company’s stock.

BLK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research note on Friday, July 14th. Bank of America Corporation restated a “buy” rating and set a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. Barclays PLC initiated coverage on BlackRock in a research note on Friday, September 8th. They set an “overweight” rating and a $475.00 target price for the company. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a research note on Tuesday, June 20th. Finally, 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 note on Tuesday, July 4th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $449.08.

In other news, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction 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 available through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction 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. Insiders have sold a total of 4,447 shares of company stock valued at $1,855,015 over the last 90 days. Company insiders own 1.86% of the company’s stock.

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BlackRock, Inc. (BLK) opened at 425.52 on Thursday. The stock has a 50 day moving average price of $422.40 and a 200-day moving average price of $405.54. The company has a market capitalization of $69.02 billion, a PE ratio of 20.42 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 results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 29.92% and a return on equity of 11.74%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.78 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post $21.82 earnings per share for the current fiscal 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 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 2.35%. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.

About BlackRock

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.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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