Candriam Luxembourg S.C.A. Boosts Position in BlackRock Inc. (BLK)
Candriam Luxembourg S.C.A. raised its stake in BlackRock Inc. (NYSE:BLK) by 14.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 4,868 shares of the company’s stock after buying an additional 631 shares during the period. Candriam Luxembourg S.C.A.’s holdings in BlackRock were worth $1,668,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. Ropes Wealth Advisors LLC boosted its stake in shares of BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock valued at $132,000 after buying an additional 101 shares during the period. Citizens Financial Group Inc RI boosted its position in shares of BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock worth $133,000 after buying an additional 54 shares in the last quarter. Financial Architects Inc boosted its position in shares of BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock worth $148,000 after buying an additional 31 shares in the last quarter. Jolley Asset Management LLC boosted its position in shares of BlackRock by 51.6% in the second quarter. Jolley Asset Management LLC now owns 485 shares of the company’s stock worth $166,000 after buying an additional 165 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of BlackRock during the second quarter worth $201,000. Hedge funds and other institutional investors own 81.58% of the company’s stock.
Shares of BlackRock Inc. (NYSE:BLK) traded down 1.12% on Tuesday, hitting $356.03. The stock had a trading volume of 711,532 shares. The stock’s 50-day moving average price is $367.59 and its 200 day moving average price is $356.57. BlackRock Inc. has a 52 week low of $280.55 and a 52 week high of $376.65. The company has a market cap of $58.55 billion, a PE ratio of 18.97 and a beta of 1.46.
BlackRock (NYSE:BLK) last released its quarterly earnings results 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 business 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 period in the prior year, the business earned $4.96 EPS. On average, analysts predict that BlackRock Inc. will post $19.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were issued a dividend of $2.29 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.57%. BlackRock’s payout ratio is presently 48.83%.
A number of brokerages recently weighed in on BLK. Barclays PLC reissued an “equal weight” rating and issued a $363.00 price target on shares of BlackRock in a research note on Wednesday, June 15th. Deutsche Bank AG lifted their price target on BlackRock from $392.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Jefferies Group dropped their price target on BlackRock from $359.00 to $357.00 and set a “hold” rating on the stock in a research note on Monday, July 11th. Wells Fargo & Co. reissued a “hold” rating on shares of BlackRock in a research note on Monday, July 11th. Finally, Vetr raised BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price target on the stock in a research note on Wednesday, August 10th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $382.94.
In related news, Director Susan Wagner sold 79,346 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the completion of the transaction, the director now directly owns 587,365 shares in the company, valued at $215,181,167.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan Stork sold 1,400 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $367.24, for a total value of $514,136.00. The disclosure for this sale can be found here. Corporate 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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