BlackRock Inc. (BLK) Position Reduced by Private Wealth Partners LLC
Private Wealth Partners LLC reduced its stake in shares of BlackRock Inc. (NYSE:BLK) by 10.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,250 shares of the company’s stock after selling 600 shares during the period. Private Wealth Partners LLC’s holdings in BlackRock were worth $1,798,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised its stake in shares of BlackRock by 36.4% in the first quarter. TIAA CREF Investment Management LLC now owns 456,199 shares of the company’s stock worth $155,368,000 after buying an additional 121,777 shares in the last quarter. American Century Companies Inc. raised its stake in shares of BlackRock by 102.4% in the second quarter. American Century Companies Inc. now owns 169,593 shares of the company’s stock worth $58,091,000 after buying an additional 85,793 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of BlackRock during the second quarter worth $19,065,000. ING Groep NV raised its stake in shares of BlackRock by 3,315.9% in the first quarter. ING Groep NV now owns 53,118 shares of the company’s stock worth $18,079,000 after buying an additional 51,563 shares in the last quarter. Finally, Capital Fund Management S.A. raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
BlackRock Inc. (NYSE:BLK) traded down 0.66% during mid-day trading on Monday, hitting $360.07. The stock had a trading volume of 623,195 shares. The firm’s 50-day moving average is $368.20 and its 200 day moving average is $356.03. BlackRock Inc. has a one year low of $280.55 and a one year high of $376.65. The stock has a market cap of $59.22 billion, a PE ratio of 19.19 and a beta of 1.46.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by $0.04. The company earned $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the business earned $4.96 earnings per share. Equities research analysts expect that BlackRock Inc. will post $19.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were issued a $2.29 dividend. This represents a $9.16 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 48.83%.
A number of equities research analysts have weighed in on BLK shares. Deutsche Bank AG lifted their price objective on BlackRock from $392.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 5th. Goldman Sachs Group Inc. lowered BlackRock from a “conviction-buy” rating to a “buy” rating and lifted their price objective for the company from $390.00 to $400.00 in a report on Monday, August 8th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Vetr lowered BlackRock from a “buy” rating to a “hold” rating and set a $382.97 price objective on the stock. in a report on Tuesday, August 16th. Finally, Barclays PLC lifted their price objective on BlackRock from $364.00 to $375.00 and gave the company an “equal weight” rating in a report on Wednesday, August 24th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $382.94.
In related news, insider Ryan Stork sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $367.24, for a total transaction of $514,136.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $356.55, for a total transaction of $2,852,400.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
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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