United Capital Financial Advisers LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 3.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 58,667 shares of the asset manager’s stock after selling 2,052 shares during the period. United Capital Financial Advisers LLC’s holdings in BlackRock were worth $51,332,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in BlackRock by 11.0% in the second quarter. FMR LLC now owns 3,892,865 shares of the asset manager’s stock valued at $3,406,141,000 after purchasing an additional 386,410 shares in the last quarter. Liberty Wealth Management LLC grew its holdings in BlackRock by 112,080.7% during the second quarter. Liberty Wealth Management LLC now owns 127,886 shares of the asset manager’s stock worth $146,000 after acquiring an additional 127,772 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new stake in BlackRock in the second quarter valued at $82,772,000. Toronto Dominion Bank lifted its position in BlackRock by 98.8% during the second quarter. Toronto Dominion Bank now owns 192,225 shares of the asset manager’s stock worth $87,487,000 after buying an additional 95,552 shares during the period. Finally, Bank of Nova Scotia raised its holdings in shares of BlackRock by 313.3% in the 2nd quarter. Bank of Nova Scotia now owns 122,260 shares of the asset manager’s stock worth $106,947,000 after purchasing an additional 92,682 shares during the period. Institutional investors and hedge funds own 78.13% of the company’s stock.
In other news, General Counsel Christopher J. Meade sold 2,106 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total value of $1,847,467.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.16% of the company’s stock.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 12th. The asset manager reported $10.95 EPS for the quarter, topping the Zacks’ consensus estimate of $9.81 by $1.14. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the business earned $9.22 EPS. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts forecast that BlackRock, Inc. will post 38.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th were issued a dividend of $4.13 per share. This represents a $16.52 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, September 3rd. BlackRock’s dividend payout ratio is 48.85%.
Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on BlackRock from $1,021.00 to $1,026.00 and gave the stock an “overweight” rating in a research report on Thursday. Argus lifted their price objective on shares of BlackRock from $950.00 to $975.00 and gave the company a “buy” rating in a research note on Thursday, July 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating on the stock in a research note on Thursday. Evercore ISI reissued a “buy” rating and set a $956.00 target price on shares of BlackRock in a research report on Thursday. Finally, Credit Suisse Group reduced their target price on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Thursday, July 15th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $952.93.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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