Hengehold Capital Management LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,052 shares of the asset manager’s stock after selling 38 shares during the quarter. Hengehold Capital Management LLC’s holdings in BlackRock were worth $2,371,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its stake in shares of BlackRock by 1.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 32,840 shares of the asset manager’s stock worth $15,410,000 after purchasing an additional 559 shares during the last quarter. Whittier Trust Co. increased its stake in shares of BlackRock by 0.8% during the 2nd quarter. Whittier Trust Co. now owns 34,851 shares of the asset manager’s stock worth $16,355,000 after purchasing an additional 267 shares during the last quarter. Chemung Canal Trust Co. acquired a new position in shares of BlackRock during the 2nd quarter worth about $2,088,000. Dowling & Yahnke LLC increased its stake in shares of BlackRock by 6.7% during the 2nd quarter. Dowling & Yahnke LLC now owns 6,187 shares of the asset manager’s stock worth $2,904,000 after purchasing an additional 389 shares during the last quarter. Finally, Exchange Capital Management Inc. increased its stake in shares of BlackRock by 3.7% during the 2nd quarter. Exchange Capital Management Inc. now owns 13,776 shares of the asset manager’s stock worth $6,465,000 after purchasing an additional 493 shares during the last quarter. 81.31% of the stock is currently owned by institutional investors and hedge funds.
BLK traded up $4.30 on Friday, reaching $478.17. The company had a trading volume of 417,349 shares, compared to its average volume of 458,723. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $512.71. The firm has a market cap of $73.73 billion, a PE ratio of 17.76, a P/E/G ratio of 1.76 and a beta of 1.52. The firm’s fifty day simple moving average is $465.10. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing the Zacks’ consensus estimate of $6.52 by ($0.11). The company had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $6.66 EPS. Research analysts forecast that BlackRock, Inc. will post 27.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, September 4th. BlackRock’s dividend payout ratio is currently 49.02%.
BLK has been the topic of several recent analyst reports. Citigroup boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Morgan Stanley upgraded shares of OIL SEARCH LTD/ADR from an “equal weight” rating to an “overweight” rating in a research note on Monday. Barclays lowered shares of Barrick Gold from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $15.00 to $18.00 in a research note on Tuesday, July 16th. Wells Fargo & Co restated a “buy” rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $499.03.
In other BlackRock news, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total value of $15,055,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeff A. Smith sold 75 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $479.40, for a total transaction of $35,955.00. The disclosure for this sale can be found here. Insiders own 1.42% of the company’s stock.
BlackRock Company Profile
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.
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