BlackRock, Inc. (BLK) Shares Bought by Homrich & Berg
Homrich & Berg boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,988 shares of the asset manager’s stock after buying an additional 241 shares during the period. Homrich & Berg’s holdings in BlackRock were worth $840,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. BlackRock Inc. increased its position in BlackRock by 2,775.4% during 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 during the period. Harbour Capital Advisors LLC increased its position in BlackRock by 38,807.6% during 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 during the period. UBS Group AG increased its position in BlackRock by 40.2% during 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 during the period. Vanguard Group Inc. increased its position in BlackRock by 3.3% during 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 during the period. Finally, Clearbridge Investments LLC increased its position in BlackRock by 8.2% during 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 during the period. 82.77% of the stock is currently owned by institutional investors.
Several research analysts have commented on BLK shares. Bank of America Corporation reaffirmed 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 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 upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG lifted their target price on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $460.00 target price (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $449.08.
In related news, insider Robert W. Fairbairn sold 3,675 shares of the firm’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 value of $1,526,264.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,447 shares of company stock worth $1,855,015. 1.86% of the stock is owned by insiders.
Shares of BlackRock, Inc. (NYSE BLK) opened at 428.72 on Friday. The stock has a market capitalization of $69.54 billion, a P/E ratio of 20.58 and a beta of 1.71. The company has a 50 day moving average price of $422.13 and a 200-day moving average price of $406.10. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company posted $4.78 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.33%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Stock Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related stocks with our FREE daily email newsletter.