Royal Bank of Canada Has $209.35 Million Holdings in BlackRock, Inc. (BLK)
Royal Bank of Canada reduced its position in BlackRock, Inc. (NYSE:BLK) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 495,613 shares of the asset manager’s stock after selling 17,622 shares during the quarter. Royal Bank of Canada owned about 0.31% of BlackRock worth $209,352,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLK. Salem Investment Counselors Inc. grew its holdings in shares of BlackRock by 14.3% during the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after buying an additional 30 shares during the last quarter. Enterprise Financial Services Corp grew its holdings in shares of BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of BlackRock during the second quarter valued at $104,000. Proficio Capital Partners LLC grew its holdings in shares of BlackRock by 48.9% during the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares during the last quarter. Finally, Harfst & Associates Inc. grew its holdings in shares of BlackRock by 17.3% during the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after buying an additional 39 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.
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Shares of BlackRock, Inc. (NYSE:BLK) opened at 463.22 on Friday. The stock has a market capitalization of $75.14 billion, a price-to-earnings ratio of 22.23 and a beta of 1.72. The firm has a 50-day moving average of $429.51 and a 200 day moving average of $412.18. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $465.87.
BlackRock (NYSE:BLK) last issued 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). BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the business posted $4.78 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts forecast that BlackRock, Inc. will post $21.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s payout ratio is currently 47.98%.
In other news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,447 shares of company stock worth $1,855,015 over the last three months. 1.86% of the stock is currently owned by insiders.
A number of equities research analysts have recently weighed in on BLK shares. Deutsche Bank AG boosted their price objective on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. BidaskClub lowered shares of BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Bank of America Corporation reissued a “buy” rating and set a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) raised shares of BlackRock from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective on the stock in a report on Tuesday, October 3rd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $460.08.
BlackRock Company Profile
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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