BlackRock, Inc. (BLK) Stake Held by Cambridge Advisors Inc.
Cambridge Advisors Inc. maintained its position in shares of BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,200 shares of the asset manager’s stock at the end of the second quarter. Cambridge Advisors Inc.’s holdings in BlackRock were worth $507,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares in the last quarter. UBS Group AG increased its position in shares of BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after buying an additional 486,502 shares in the last quarter. Vanguard Group Inc. increased its position in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after buying an additional 250,431 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock worth $597,206,000 after buying an additional 118,222 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of BlackRock by 134.9% in the first quarter. Renaissance Technologies LLC now owns 199,968 shares of the asset manager’s stock worth $76,690,000 after buying an additional 114,854 shares in the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) traded up 0.35% during midday trading on Friday, reaching $424.16. The company had a trading volume of 807,059 shares. The stock has a market capitalization of $68.80 billion, a PE ratio of 20.36 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84. The company’s 50 day moving average price is $428.03 and its 200 day moving average price is $399.68.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.24% and a return on equity of 11.71%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the firm earned $4.78 earnings per share. The firm’s quarterly revenue 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 year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be paid 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 2.36%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
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A number of equities analysts have commented on BLK shares. Deutsche Bank AG reiterated a “buy” rating and issued a $441.00 target price (down from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Morgan Stanley restated an “overweight” rating and set a $460.00 price target (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Bank of America Corporation restated a “buy” rating and set a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Friday, July 14th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. BlackRock presently has an average rating of “Buy” and a consensus price target of $434.93.
In related news, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the sale, the director now directly owns 484,386 shares in the company, valued at $200,685,963.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeff A. Smith sold 522 shares of BlackRock stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The disclosure for this sale can be found here. Over the last 90 days, 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.
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