Sage Capital Advisors llc Invests $1.75 Million in BlackRock, Inc. (BLK)
Sage Capital Advisors llc acquired a new position in BlackRock, Inc. (NYSE:BLK) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,144 shares of the asset manager’s stock, valued at approximately $1,750,000. BlackRock accounts for approximately 1.3% of Sage Capital Advisors llc’s portfolio, making the stock its 27th biggest position.
Several other hedge funds have also recently made changes to their positions in BLK. State of Alaska Department of Revenue bought a new stake in shares of BlackRock in the 1st quarter worth approximately $108,000. Waldron LP lifted its position in shares of BlackRock by 108.2% in the 1st quarter. Waldron LP now owns 1,164 shares of the asset manager’s stock worth $446,000 after acquiring an additional 605 shares during the period. Arrow Financial Corp lifted its position in shares of BlackRock by 8.7% in the 1st quarter. Arrow Financial Corp now owns 8,072 shares of the asset manager’s stock worth $3,096,000 after acquiring an additional 643 shares during the period. Linscomb & Williams Inc. lifted its position in shares of BlackRock by 7.4% in the 1st quarter. Linscomb & Williams Inc. now owns 9,025 shares of the asset manager’s stock worth $3,461,000 after acquiring an additional 625 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of BlackRock by 4.1% in the 1st quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock worth $782,896,000 after acquiring an additional 80,433 shares during the period. Institutional investors own 82.77% of the company’s stock.
A number of analysts have commented on BLK shares. Jefferies Group LLC reiterated a “hold” rating and issued a $387.00 price objective on shares of BlackRock in a research report on Wednesday, May 17th. Bank of America Corporation restated a “buy” rating and set a $450.00 target price on shares of BlackRock in a research 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 research report on Tuesday, June 20th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Finally, Deutsche Bank AG raised their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $449.08.
In related news, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 250 shares of the 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. Insiders have sold 4,447 shares of company stock worth $1,855,015 in the last three months. 1.86% of the stock is currently owned by company insiders.
BlackRock, Inc. (BLK) opened at 425.52 on Thursday. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84. The company has a market cap of $69.02 billion, a P/E ratio of 20.42 and a beta of 1.71. The firm has a 50-day moving average price of $422.40 and a 200 day moving average price of $405.54.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.39 by ($0.15). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.78 EPS. On average, equities analysts expect that BlackRock, Inc. will post $21.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio is currently 47.98%.
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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