Campbell Newman Asset Management Inc. lowered its position in BlackRock, Inc. (NYSE:BLK) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,516 shares of the asset manager’s stock after selling 355 shares during the period. BlackRock comprises approximately 3.0% of Campbell Newman Asset Management Inc.’s holdings, making the stock its 7th largest position. Campbell Newman Asset Management Inc.’s holdings in BlackRock were worth $16,692,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BLK. Financial Architects Inc lifted its position in shares of BlackRock by 0.7% during the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after acquiring an additional 2 shares during the period. Davis R M Inc. lifted its position in shares of BlackRock by 0.4% during the 2nd quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock valued at $238,000 after acquiring an additional 2 shares during the period. Eqis Capital Management Inc. lifted its position in shares of BlackRock by 0.5% during the 1st quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock valued at $233,000 after acquiring an additional 3 shares during the period. National Asset Management Inc. lifted its position in shares of BlackRock by 0.4% during the 1st quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after acquiring an additional 3 shares during the period. Finally, Proficio Capital Partners LLC lifted its position in shares of BlackRock by 1.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 3 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

In related news, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total value of $1,526,264.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,447 shares of company stock valued at $1,855,015. 1.86% of the stock is owned by insiders.

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A number of equities research analysts have recently issued reports on BLK shares. Bank of America Corporation reiterated a “buy” rating and set a $450.00 price target on shares of BlackRock in a research report on Monday, June 19th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a research report on Tuesday, June 20th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Deutsche Bank AG lifted their price target on shares of BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $460.00 price target (up from $422.00) on shares of BlackRock in a research report on Monday, July 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $449.08.

BlackRock, Inc. (NYSE BLK) opened at 429.44 on Tuesday. The firm has a market capitalization of $69.66 billion, a P/E ratio of 20.61 and a beta of 1.71. The company’s 50 day moving average price is $422.28 and its 200 day moving average price is $406.57. BlackRock, Inc. has a 12 month low of $336.84 and a 12 month high of $442.84.

BlackRock (NYSE:BLK) last issued its quarterly 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 firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.78 EPS. Analysts anticipate that BlackRock, Inc. will post $21.83 EPS for the current year.

The company 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 $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 dividend payout ratio (DPR) is presently 47.98%.

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.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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