Utah Retirement Systems Lowers Position in BlackRock, Inc. (BLK)
Utah Retirement Systems lowered its position in BlackRock, Inc. (NYSE:BLK) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,822 shares of the asset manager’s stock after selling 100 shares during the period. Utah Retirement Systems’ holdings in BlackRock were worth $9,640,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its stake in BlackRock by 19.1% in the 1st quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock valued at $65,487,000 after buying an additional 27,321 shares in the last quarter. KBC Group NV lifted its stake in BlackRock by 35.1% in the 1st quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock valued at $19,284,000 after buying an additional 13,065 shares in the last quarter. Everett Harris & Co. CA lifted its stake in BlackRock by 9.2% in the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock valued at $42,301,000 after buying an additional 8,478 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in BlackRock by 48.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock valued at $42,960,000 after buying an additional 33,400 shares in the last quarter. Finally, Markel Corp lifted its stake in BlackRock by 3.9% in the 2nd quarter. Markel Corp now owns 175,000 shares of the asset manager’s stock valued at $73,922,000 after buying an additional 6,500 shares in the last quarter. Institutional investors and hedge funds own 82.77% of the company’s stock.
BlackRock, Inc. (BLK) opened at 425.52 on Thursday. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84. The stock has a market cap of $69.02 billion, a price-to-earnings ratio of 20.42 and a beta of 1.71. The firm’s 50 day moving average price is $422.40 and its 200-day moving average price is $405.54.
BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 29.92% and a return on equity of 11.74%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $4.78 EPS. Analysts expect that BlackRock, Inc. will post $21.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
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BLK has been the topic of a number of recent research reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $455.00 target price (down previously from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research note on Tuesday, June 20th. Bank of America Corporation reaffirmed a “buy” rating and issued a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. BidaskClub lowered BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $387.00 target price on shares of BlackRock in a research note on Wednesday, May 17th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $449.08.
In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff A. Smith sold 522 shares of BlackRock stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total transaction of $220,033.44. The disclosure for this sale can be found here. Insiders have sold a total of 4,447 shares of company stock valued at $1,855,015 in the last three months. Company insiders own 1.86% of the company’s stock.
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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