Zevin Asset Management LLC Buys New Stake in BlackRock, Inc. (BLK)
Zevin Asset Management LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,671 shares of the asset manager’s stock, valued at approximately $7,887,000. BlackRock accounts for approximately 2.0% of Zevin Asset Management LLC’s portfolio, making the stock its 14th biggest holding.
Several other large investors also recently added to or reduced their stakes in BLK. BlackRock Inc. lifted its position in shares of BlackRock by 2,775.4% during the 1st quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after acquiring an additional 6,314,004 shares during the period. Harbour Capital Advisors LLC lifted its position in shares of BlackRock by 38,807.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock valued at $2,848,000 after acquiring an additional 1,199,932 shares during the period. UBS Group AG lifted its position in shares of BlackRock by 40.2% during the 1st quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after acquiring an additional 486,502 shares during the period. Principal Financial Group Inc. lifted its position in shares of BlackRock by 207.1% during the 2nd quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock valued at $222,771,000 after acquiring an additional 355,630 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of BlackRock by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after acquiring an additional 250,431 shares during the period. Hedge funds and other institutional investors own 82.77% of the company’s stock.
In other BlackRock news, insider Jeff A. Smith sold 522 shares of BlackRock stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total transaction of $220,033.44. The sale 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 BlackRock stock in a transaction dated Tuesday, September 5th. The stock was 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 4,447 shares of company stock valued at $1,855,015 in the last three months. 1.86% of the stock is owned by corporate insiders.
Shares of BlackRock, Inc. (NYSE:BLK) opened at 428.72 on Friday. The company’s 50 day moving average price is $422.13 and its 200 day moving average price is $406.10. The company has a market capitalization of $69.54 billion, a P/E ratio of 20.58 and a beta of 1.71. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84.
BlackRock (NYSE:BLK) last posted its quarterly earnings data 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 business had revenue of $2.97 billion for 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%. BlackRock’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.78 EPS. Analysts expect that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The firm 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. This represents a $10.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is 47.98%.
BLK has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $476.00 target price (up from $460.00) on shares of BlackRock in a research report on Tuesday, July 18th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Bank of America Corporation reiterated a “buy” rating and set a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $449.08.
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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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