BlackRock, Inc. (BLK) Shares Sold by Connors Investor Services Inc.
Connors Investor Services Inc. cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 600 shares of the asset manager’s stock after selling 10 shares during the quarter. Connors Investor Services Inc.’s holdings in BlackRock were worth $253,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of BLK. Vanguard Group Inc. raised its holdings in shares of BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. BlackRock Inc. lifted its stake in BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after purchasing an additional 209,209 shares during the last quarter. State Street Corp lifted its stake in BlackRock by 2.1% during the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after purchasing an additional 112,993 shares during the last quarter. UBS Group AG lifted its stake in BlackRock by 40.2% during the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after purchasing an additional 486,502 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in BlackRock by 8.2% during the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock valued at $597,206,000 after purchasing an additional 118,222 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
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BlackRock, Inc. (BLK) opened at 447.09 on Monday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $448.53. The firm has a market cap of $72.52 billion, a price-to-earnings ratio of 21.46 and a beta of 1.72. The firm has a 50-day moving average of $422.45 and a 200 day moving average of $406.87.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the firm earned $4.78 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post $21.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s payout ratio is currently 47.98%.
Several research analysts have issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $476.00 price target (up previously from $460.00) on shares of BlackRock in a 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. Barclays PLC began coverage on BlackRock in a research note on Friday, September 8th. They set an “overweight” rating and a $475.00 price objective for the company. Bank of America Corporation reissued a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Finally, Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. BlackRock has an average rating of “Buy” and an average target price of $456.54.
In related news, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were 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 SEC, which can be accessed through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the firm’s 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. In the last ninety days, insiders sold 4,447 shares of company stock worth $1,855,015. Insiders own 1.86% of the company’s stock.
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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