Highland Associates Inc. Takes Position in BlackRock, Inc. (BLK)
Highland Associates Inc. acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the second quarter, HoldingsChannel reports. The institutional investor acquired 13,370 shares of the asset manager’s stock, valued at approximately $6,672,000. BlackRock comprises 1.3% of Highland Associates Inc.’s holdings, making the stock its 5th largest holding.
A number of other hedge funds have also made changes to their positions in BLK. Bank of The West boosted its position in BlackRock by 3.8% during the first quarter. Bank of The West now owns 2,604 shares of the asset manager’s stock worth $1,411,000 after purchasing an additional 96 shares in the last quarter. World Asset Management Inc boosted its position in BlackRock by 1.3% during the second quarter. World Asset Management Inc now owns 7,442 shares of the asset manager’s stock worth $3,714,000 after purchasing an additional 99 shares in the last quarter. Pekin Singer Strauss Asset Management IL boosted its position in BlackRock by 20.9% during the first quarter. Pekin Singer Strauss Asset Management IL now owns 578 shares of the asset manager’s stock worth $313,000 after purchasing an additional 100 shares in the last quarter. Intact Investment Management Inc. boosted its position in BlackRock by 1.0% during the second quarter. Intact Investment Management Inc. now owns 10,300 shares of the asset manager’s stock worth $5,144,000 after purchasing an additional 100 shares in the last quarter. Finally, HM Payson & Co. boosted its position in BlackRock by 11.5% during the first quarter. HM Payson & Co. now owns 982 shares of the asset manager’s stock worth $532,000 after purchasing an additional 101 shares in the last quarter. 83.85% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Chairman Laurence Fink sold 19,800 shares of the stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total transaction of $10,051,866.00. Following the transaction, the chairman now directly owns 1,098,328 shares in the company, valued at $557,588,175.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff A. Smith sold 166 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $546.13, for a total value of $90,657.58. The disclosure for this sale can be found here. 1.86% of the stock is owned by corporate insiders.
Shares of NYSE:BLK opened at $478.95 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.02. BlackRock, Inc. has a 52-week low of $408.62 and a 52-week high of $594.52. The firm has a market capitalization of $78.01 billion, a PE ratio of 19.08, a P/E/G ratio of 1.51 and a beta of 1.61.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.55 by $0.11. BlackRock had a return on equity of 13.29% and a net margin of 38.97%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the prior year, the business earned $5.24 earnings per share. The business’s revenue was up 11.4% on a year-over-year basis. equities analysts anticipate that BlackRock, Inc. will post 27.71 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 24th. Stockholders of record on Friday, September 7th will be given a $3.13 dividend. This is an increase from BlackRock’s previous quarterly dividend of $2.88. This represents a $12.52 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, September 6th. BlackRock’s dividend payout ratio is currently 50.97%.
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
Recommended Story: How are Outstanding Shares Different from Authorized Shares?
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 & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.