Macquarie Group Ltd. Lowers Stake in BlackRock, Inc. (BLK)
Macquarie Group Ltd. lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,007 shares of the asset manager’s stock after selling 1,390 shares during the quarter. Macquarie Group Ltd.’s holdings in BlackRock were worth $18,167,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its position in shares of BlackRock by 14.3% during the 2nd 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 in the last quarter. Proficio Capital Partners LLC raised its position in shares of BlackRock by 48.9% during the 1st 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 in the last quarter. Enterprise Financial Services Corp raised its position in shares of BlackRock by 52.5% during the 2nd 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 in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of BlackRock during the 2nd quarter valued at $104,000. Finally, Kings Point Capital Management raised its position in shares of BlackRock by 34.5% during the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
BLK has been the topic of several research reports. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Barclays PLC raised their price objective on shares of BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley restated an “overweight” rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $440.00 target price on shares of BlackRock in a report on Friday, July 14th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $478.50.
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In other news, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction on 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 link. Also, insider Jeff A. Smith sold 522 shares of the 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 disclosure for this sale can be found here. In the last three months, insiders sold 4,447 shares of company stock worth $1,855,015. Insiders own 1.86% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) opened at 480.59 on Friday. The company has a market cap of $77.96 billion, a price-to-earnings ratio of 22.51 and a beta of 1.72. The company’s 50 day moving average is $435.54 and its 200 day moving average is $414.91. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $485.23.
BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm posted $5.14 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts forecast that BlackRock, Inc. will post $22.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s dividend payout ratio is currently 46.82%.
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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