Gateway Investment Advisers LLC Sells 117 Shares of BlackRock, Inc. (BLK)
Gateway Investment Advisers LLC lowered its stake in BlackRock, Inc. (NYSE:BLK) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 8,649 shares of the asset manager’s stock after selling 117 shares during the period. Gateway Investment Advisers LLC’s holdings in BlackRock were worth $3,653,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC increased its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares in the last quarter. Kings Point Capital Management increased its stake in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of BlackRock during the first quarter valued at $108,000. Peoples Financial Services CORP. bought a new stake in shares of BlackRock during the first quarter valued at $115,000. Finally, Twin Tree Management LP increased its stake in shares of BlackRock by 131.2% in the first quarter. Twin Tree Management LP now owns 343 shares of the asset manager’s stock valued at $132,000 after buying an additional 1,443 shares in the last quarter. 80.37% of the stock is owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE BLK) traded up 0.35% during mid-day trading on Friday, reaching $424.16. The company had a trading volume of 807,059 shares. The firm has a market capitalization of $68.80 billion, a P/E ratio of 20.36 and a beta of 1.71. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84. The stock’s 50-day moving average is $428.03 and its 200 day moving average is $399.68.
BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the consensus estimate of $5.39 by $0.15. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the company earned $4.78 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post $21.85 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio is 47.98%.
A number of equities research analysts have commented on BLK shares. Morgan Stanley reissued an “overweight” rating and issued a $460.00 target price (up previously from $422.00) on shares of BlackRock in a report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and issued a $387.00 target price on shares of BlackRock in a report on Wednesday, May 17th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Deutsche Bank AG reissued a “buy” rating and issued 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 reissued an “outperform” rating and issued a $534.00 target price on shares of BlackRock in a report on Tuesday, July 18th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $434.93.
In other 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 transaction of $202,990.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were 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 of the company’s stock, valued at $200,685,963.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,772 shares of company stock valued at $1,567,516. 1.86% of the stock is currently owned by company insiders.
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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