Ashburton Jersey Ltd Has $3,745,000 Position in BlackRock Inc. (BLK)
Ashburton Jersey Ltd reduced its position in shares of BlackRock Inc. (NYSE:BLK) by 24.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,933 shares of the company’s stock after selling 3,547 shares during the period. BlackRock makes up 1.6% of Ashburton Jersey Ltd’s investment portfolio, making the stock its 16th largest position. Ashburton Jersey Ltd’s holdings in BlackRock were worth $3,745,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. Mariner Wealth Advisors LLC acquired a new stake in shares of BlackRock during the first quarter worth $599,000. Sun Life Financial INC acquired a new stake in shares of BlackRock during the first quarter worth $91,954,000. Geode Capital Management LLC increased 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 in the last quarter. Fairfield Bush & CO. acquired a new stake in shares of BlackRock during the first quarter worth $681,000. Finally, AXA increased its stake in shares of BlackRock by 0.3% in the first quarter. AXA now owns 60,830 shares of the company’s stock worth $20,716,000 after buying an additional 161 shares in the last quarter. 81.57% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock Inc. (NYSE:BLK) traded up 0.56% during midday trading on Tuesday, hitting $356.59. 704,718 shares of the company traded hands. The stock’s 50-day moving average is $363.60 and its 200 day moving average is $357.45. BlackRock Inc. has a 12-month low of $280.55 and a 12-month high of $376.65. The stock has a market capitalization of $58.65 billion, a P/E ratio of 19.00 and a beta of 1.46.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 18th. The company reported $5.14 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.16. The firm earned $2.84 billion during the quarter, compared to analysts’ expectations of $1.01 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $5.00 EPS. On average, analysts expect that BlackRock Inc. will post $19.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were given a $2.29 dividend. This represents a $9.16 annualized dividend and a yield of 2.57%. The ex-dividend date was Wednesday, August 31st. BlackRock’s payout ratio is presently 48.83%.
A number of brokerages recently weighed in on BLK. Goldman Sachs Group Inc. downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the company from $390.00 to $400.00 in a research report on Monday, August 8th. Deutsche Bank AG boosted their price objective on shares of BlackRock from $404.00 to $414.00 and gave the company a “buy” rating in a research report on Friday, September 9th. Barclays PLC boosted their price objective on shares of BlackRock from $364.00 to $375.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 24th. Vetr downgraded shares of BlackRock from a “buy” rating to a “hold” rating and set a $382.97 price objective for the company. in a research report on Tuesday, August 16th. Finally, Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $385.26.
In other news, Director James Grosfeld sold 10,911 shares of BlackRock stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $371.98, for a total transaction of $4,058,673.78. Following the completion of the sale, the director now owns 514,402 shares in the company, valued at approximately $191,347,255.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan Wagner sold 79,346 shares of BlackRock stock in a transaction that occurred on 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 sale, the director now owns 587,365 shares of the company’s stock, valued at approximately $215,181,167.75. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company 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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