Tokio Marine Asset Management Co. Ltd. Cuts Stake in BlackRock Inc. (BLK)
Tokio Marine Asset Management Co. Ltd. lowered its position in BlackRock Inc. (NYSE:BLK) by 5.8% during the second quarter, Holdings Channel reports. The fund owned 3,413 shares of the company’s stock after selling 212 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in BlackRock were worth $1,169,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its stake in shares of BlackRock by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,188,460 shares of the company’s stock worth $1,085,894,000 after buying an additional 24,395 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of BlackRock by 0.6% in the first quarter. Franklin Resources Inc. now owns 1,128,546 shares of the company’s stock worth $384,352,000 after buying an additional 6,960 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of BlackRock by 1.5% in the first quarter. Geode Capital Management LLC now owns 1,024,080 shares of the company’s stock worth $348,066,000 after buying an additional 14,917 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of BlackRock by 1.3% in the first quarter. BlackRock Group LTD now owns 967,399 shares of the company’s stock worth $329,468,000 after buying an additional 12,121 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake 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 last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
BlackRock Inc. (NYSE:BLK) traded down 1.12% on Tuesday, reaching $356.03. 711,532 shares of the company were exchanged. BlackRock Inc. has a 12-month low of $280.55 and a 12-month high of $376.65. The firm has a market capitalization of $58.55 billion, a PE ratio of 18.97 and a beta of 1.46. The stock has a 50 day moving average of $367.59 and a 200 day moving average of $356.57.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The firm’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 posted $4.96 EPS. Equities analysts anticipate that BlackRock Inc. will post $19.21 EPS for the current year.
The business also recently declared 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 2.57%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 48.83%.
BLK has been the subject of a number of research reports. Deutsche Bank AG restated a “buy” rating and set a $392.00 target price (up from $372.00) on shares of BlackRock in a report on Sunday, July 10th. Credit Suisse Group AG restated a “buy” rating on shares of BlackRock in a report on Tuesday, July 12th. Keefe, Bruyette & Woods lowered shares of BlackRock from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $390.00 to $383.00 in a research note on Friday, July 15th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price objective for the company in a research note on Monday, September 19th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of BlackRock in a research note on Thursday, June 16th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $382.94.
In other news, Director J. Richard Kushel sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $356.55, for a total value of $2,852,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Mccombe sold 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $374.92, for a total transaction of $524,888.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by 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.
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