WFG Advisors LP Has $463,000 Position in BlackRock, Inc. (BLK)
WFG Advisors LP increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 66.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,096 shares of the asset manager’s stock after purchasing an additional 438 shares during the quarter. WFG Advisors LP’s holdings in BlackRock were worth $463,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Everett Harris & Co. CA lifted its stake in shares of BlackRock by 9.2% during the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after purchasing an additional 8,478 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of BlackRock by 19.1% during the 1st quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock worth $65,487,000 after purchasing an additional 27,321 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of BlackRock by 48.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after purchasing an additional 33,400 shares during the last quarter. Blue Chip Partners Inc. lifted its stake in shares of BlackRock by 8.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock worth $5,677,000 after purchasing an additional 1,055 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of BlackRock by 35.1% during the 1st quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock worth $19,284,000 after purchasing an additional 13,065 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
BLK has been the subject of a number of analyst reports. Deutsche Bank AG upped their price objective on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. BidaskClub cut BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Bank of America Corporation restated a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Goldman Sachs Group, Inc. (The) upgraded BlackRock from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Finally, Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective for the company in a research note on Tuesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $478.50.
In other news, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were 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 sold a total of 5,025 shares of company stock valued at $2,162,130 over the last three months. Company insiders own 1.86% of the company’s stock.
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BlackRock, Inc. (NYSE:BLK) traded down 0.36% during midday trading on Tuesday, reaching $476.26. The company’s stock had a trading volume of 117,647 shares. The firm has a market capitalization of $76.96 billion, a PE ratio of 22.31 and a beta of 1.72. The stock’s 50-day moving average price is $437.85 and its 200 day moving average price is $416.14. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $485.23.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.14 EPS. Equities analysts anticipate that BlackRock, Inc. will post $22.35 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were issued a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Thursday, August 31st. BlackRock’s payout ratio is currently 46.82%.
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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