Roberts Glore & Co. Inc. IL lowered its stake in BlackRock Inc. (NYSE:BLK) by 10.1% during the second quarter, Holdings Channel reports. The fund owned 899 shares of the company’s stock after selling 101 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in BlackRock were worth $308,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Citizens Financial Group Inc RI raised its position in BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock valued at $133,000 after buying an additional 54 shares during the last quarter. Financial Architects Inc raised its position in BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock valued at $148,000 after buying an additional 31 shares during the last quarter. Jolley Asset Management LLC raised its position in BlackRock by 51.6% in the second quarter. Jolley Asset Management LLC now owns 485 shares of the company’s stock valued at $166,000 after buying an additional 165 shares during the last quarter. Quadrant Capital Group LLC raised its position in BlackRock by 5.0% in the second quarter. Quadrant Capital Group LLC now owns 530 shares of the company’s stock valued at $174,000 after buying an additional 25 shares during the last quarter. Finally, Handelsbanken Fonder AB purchased a new position in BlackRock during the second quarter valued at about $201,000. 81.57% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock Inc. (NYSE:BLK) traded down 0.09% during mid-day trading on Monday, reaching $354.60. The company’s stock had a trading volume of 624,239 shares. BlackRock Inc. has a 52 week low of $280.55 and a 52 week high of $376.65. The firm has a 50-day moving average of $364.07 and a 200-day moving average of $357.11. The stock has a market capitalization of $58.32 billion, a price-to-earnings ratio of 18.89 and a beta of 1.46.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.96 EPS. On average, equities research analysts expect that BlackRock Inc. will post $19.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were paid a $2.29 dividend. This represents a $9.16 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is 48.83%.
Several research firms recently issued reports on BLK. Deutsche Bank AG increased their target price on BlackRock from $392.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Keefe, Bruyette & Woods set a $393.00 price target on BlackRock and gave the company a “hold” rating in a research report on Friday. Jefferies Group reduced their price target on BlackRock from $359.00 to $357.00 and set a “hold” rating on the stock in a research report on Monday, July 11th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of BlackRock in a research report on Monday, July 11th. Finally, Barclays PLC increased their price target on BlackRock from $375.00 to $378.00 and gave the company an “equal weight” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $385.26.
In related news, Director Susan Wagner sold 79,346 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $366.35, for a total value of $29,068,407.10. Following the transaction, the director now owns 587,365 shares in the company, valued at $215,181,167.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark Mccombe sold 1,400 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $374.92, for a total value of $524,888.00. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.