Tributary Capital Management LLC Has $511,000 Stake in BlackRock, Inc. (BLK)
Tributary Capital Management LLC maintained its position in BlackRock, Inc. (NYSE:BLK) during the second quarter, Holdings Channel reports. The fund owned 1,210 shares of the asset manager’s stock at the end of the second quarter. Tributary Capital Management LLC’s holdings in BlackRock were worth $511,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Regentatlantic Capital LLC purchased a new position in BlackRock during the first quarter valued at approximately $257,000. TNB Financial purchased a new position in BlackRock during the first quarter valued at approximately $332,000. Alpha Windward LLC increased its position in BlackRock by 0.6% in the first quarter. Alpha Windward LLC now owns 487 shares of the asset manager’s stock valued at $187,000 after buying an additional 3 shares in the last quarter. Atria Investments LLC increased its position in BlackRock by 90.4% in the first quarter. Atria Investments LLC now owns 4,155 shares of the asset manager’s stock valued at $1,594,000 after buying an additional 1,973 shares in the last quarter. Finally, Integrated Wealth Management increased its position in 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 in the last quarter. 80.37% of the stock is owned by hedge funds and other institutional investors.
BlackRock, Inc. (BLK) traded up 0.35% during trading on Friday, hitting $424.16. The stock had a trading volume of 807,059 shares. The firm has a market cap of $68.80 billion, a price-to-earnings ratio of 20.36 and a beta of 1.71. The stock’s 50-day moving average is $428.03 and its 200 day moving average is $399.68. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84.
BlackRock (NYSE:BLK) last released its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.24% and a return on equity of 11.71%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.78 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post $21.85 earnings per share for the current year.
The firm also recently announced 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 of this dividend is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.36%. BlackRock’s payout ratio is currently 47.98%.
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Several research analysts recently commented on BLK shares. Deutsche Bank AG reissued a “buy” rating and issued a $441.00 price objective (down from $449.00) on shares of BlackRock in a research note on Saturday, April 22nd. Jefferies Group LLC restated a “hold” rating and issued a $387.00 target price on shares of BlackRock in a report on Wednesday, May 17th. Bank of America Corporation restated a “buy” rating and issued a $450.00 target price on shares of BlackRock in a report on Monday, June 19th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a report on Tuesday, June 20th. Finally, BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $434.93.
In related news, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were 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. Insiders sold 3,772 shares of company stock valued at $1,567,516 over the last quarter. 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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