Ariel Capital Advisors LLC Has $236,000 Stake in BlackRock Inc. (BLK)
Ariel Capital Advisors LLC reduced its stake in BlackRock Inc. (NYSE:BLK) by 70.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 688 shares of the company’s stock after selling 1,638 shares during the period. Ariel Capital Advisors LLC’s holdings in BlackRock were worth $236,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Capital Fund Management S.A. boosted its position in shares of BlackRock by 1,742.8% in the second quarter. Capital Fund Management S.A. now owns 31,327 shares of the company’s stock worth $10,730,000 after buying an additional 29,627 shares during the period. Windward Capital Management Co. CA boosted its position in shares of BlackRock by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 44,866 shares of the company’s stock worth $15,368,000 after buying an additional 363 shares during the period. Legal & General Group Plc boosted its position in shares of BlackRock by 1.7% in the first quarter. Legal & General Group Plc now owns 525,766 shares of the company’s stock worth $179,060,000 after buying an additional 8,694 shares during the period. Royal Bank of Canada boosted its position in shares of BlackRock by 2.2% in the first quarter. Royal Bank of Canada now owns 436,900 shares of the company’s stock worth $148,796,000 after buying an additional 9,486 shares during the period. Finally, LS Investment Advisors LLC boosted its position in shares of BlackRock by 2.2% in the second quarter. LS Investment Advisors LLC now owns 38,951 shares of the company’s stock worth $13,342,000 after buying an additional 849 shares during the period. 81.58% of the stock is owned by hedge funds and other institutional investors.
BlackRock Inc. (NYSE:BLK) traded up 1.46% during trading on Friday, hitting $362.46. 580,414 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $368.33 and its 200 day moving average price is $355.85. BlackRock Inc. has a 12-month low of $280.55 and a 12-month high of $376.65. The firm has a market cap of $59.61 billion, a price-to-earnings ratio of 19.31 and a beta of 1.45.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 earnings per share. Equities analysts forecast that BlackRock Inc. will post $19.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were given a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s payout ratio is 48.83%.
A number of brokerages recently issued reports on BLK. Deutsche Bank AG reissued a “buy” rating and set a $392.00 price target (up from $372.00) on shares of BlackRock in a research report on Sunday, July 10th. Barclays PLC reissued a “hold” rating on shares of BlackRock in a research report on Sunday, July 17th. Jefferies Group reissued a “hold” rating on shares of BlackRock in a research report on Friday, August 5th. Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Keefe, Bruyette & Woods cut shares of BlackRock from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $390.00 to $383.00 in a research report on Friday, July 15th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $382.94.
In other BlackRock news, Director J. Richard Kushel sold 8,000 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $356.55, for a total transaction of $2,852,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Wagner sold 79,346 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the sale, the director now directly owns 587,365 shares of the company’s stock, valued at $215,181,167.75. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
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.
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