Cipher Capital LP Takes $2.55 Million Position in BlackRock, Inc. (BLK)
Cipher Capital LP purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,026 shares of the asset manager’s stock, valued at approximately $2,545,000.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of BlackRock by 2,775.4% during the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after acquiring an additional 6,314,004 shares during the last quarter. Harbour Capital Advisors LLC grew its position in shares of BlackRock by 38,807.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after acquiring an additional 1,199,932 shares during the last quarter. UBS Group AG grew its position in shares of BlackRock by 40.2% during the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after acquiring an additional 486,502 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of BlackRock by 207.1% during the second quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock worth $222,771,000 after acquiring an additional 355,630 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of BlackRock by 3.3% during the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock worth $2,989,157,000 after acquiring an additional 250,431 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
A number of brokerages have recently issued reports on BLK. Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research report on Friday, July 14th. Morgan Stanley restated an “overweight” rating and set a $460.00 target price (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Wells Fargo & Company restated a “market perform” rating and set a $425.00 target price (up from $380.00) on shares of BlackRock in a research report on Wednesday, July 12th. Deutsche Bank AG raised their target price on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research report on Tuesday, June 20th. Six investment 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 a consensus rating of “Buy” and a consensus price target of $449.08.
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Shares of BlackRock, Inc. (NYSE BLK) opened at 428.72 on Monday. The firm has a 50-day moving average price of $422.13 and a 200-day moving average price of $406.10. The firm has a market cap of $69.54 billion, a P/E ratio of 20.58 and a beta of 1.71. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.83.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 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 the consensus estimate of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. BlackRock’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.78 earnings per share. On average, equities research analysts expect that BlackRock, Inc. will post $21.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders 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 dividend yield of 2.33%. BlackRock’s payout ratio is 47.98%.
In other news, insider Jeff A. Smith sold 250 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. In the last three months, insiders sold 4,447 shares of company stock valued at $1,855,015. 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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