BlackRock, Inc. (NYSE:BLK) Stake Maintained by Lau Associates LLC
Lau Associates LLC held its position in BlackRock, Inc. (NYSE:BLK) during the second quarter, Holdings Channel reports. The fund owned 930 shares of the asset manager’s stock at the end of the second quarter. Lau Associates LLC’s holdings in BlackRock were worth $393,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Integrated Wealth Management raised its stake in shares of BlackRock by 1.1% in the first quarter. Integrated Wealth Management now owns 4,005 shares of the asset manager’s stock valued at $1,536,000 after buying an additional 43 shares during the last quarter. Atria Investments LLC raised its stake in shares of BlackRock by 90.4% in the first quarter. Atria Investments LLC now owns 4,155 shares of the asset manager’s stock worth $1,594,000 after buying an additional 1,973 shares during the last quarter. Alpha Windward LLC raised its stake in shares of BlackRock by 0.6% in the first quarter. Alpha Windward LLC now owns 487 shares of the asset manager’s stock worth $187,000 after buying an additional 3 shares during the last quarter. TNB Financial acquired a new stake in shares of BlackRock during the first quarter worth $332,000. Finally, Adirondack Trust Co. raised its stake in shares of BlackRock by 7.1% in the first quarter. Adirondack Trust Co. now owns 450 shares of the asset manager’s stock worth $172,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) traded up 0.09% during trading on Wednesday, hitting $429.20. The stock had a trading volume of 108,877 shares. The company’s 50 day moving average price is $427.53 and its 200 day moving average price is $397.93. The stock has a market cap of $69.62 billion, a price-to-earnings ratio of 20.60 and a beta of 1.71. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. BlackRock had a return on equity of 11.79% and a net margin of 29.92%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the company earned $4.78 EPS. BlackRock’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be issued a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.33%. BlackRock’s payout ratio is currently 47.98%.
Several brokerages recently commented on BLK. Morgan Stanley reaffirmed an “overweight” rating and issued a $460.00 target price (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and set a $387.00 price objective on shares of BlackRock in a research report on Wednesday, May 17th. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG restated a “buy” rating and set a $441.00 target price (down previously from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $534.00 target price on shares of BlackRock in a report on Tuesday, July 18th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $434.93.
In related news, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,772 shares of company stock worth $1,567,516. Company insiders own 1.86% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.