Azimuth Capital Management LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 26,772 shares of the asset manager’s stock after buying an additional 986 shares during the period. Azimuth Capital Management LLC’s holdings in BlackRock were worth $10,267,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after buying an additional 250,431 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of BlackRock by 4.1% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock valued at $782,896,000 after buying an additional 80,433 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of BlackRock by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 1,333,110 shares of the asset manager’s stock valued at $511,260,000 after buying an additional 9,025 shares during the last quarter. Pioneer Investment Management Inc. boosted its stake in shares of BlackRock by 22.7% in the first quarter. Pioneer Investment Management Inc. now owns 598,746 shares of the asset manager’s stock valued at $229,625,000 after buying an additional 110,634 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of BlackRock by 3.4% in the first quarter. Legal & General Group Plc now owns 572,559 shares of the asset manager’s stock valued at $219,579,000 after buying an additional 18,978 shares during the last quarter. 80.37% of the stock is currently owned by institutional investors.
BlackRock, Inc. (BLK) opened at 431.34 on Thursday. The company has a market capitalization of $69.97 billion, a P/E ratio of 20.70 and a beta of 1.71. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.83. The stock’s 50 day moving average price is $427.11 and its 200-day moving average price is $397.31.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $4.78 EPS. Equities analysts forecast that BlackRock, Inc. will post $21.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be issued a $2.50 dividend. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a dividend yield of 2.32%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
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BLK has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, July 14th. Bank of America Corporation reaffirmed a “buy” rating and issued a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target on the stock in a research note on Tuesday, June 20th. Deutsche Bank AG upped their price target on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $425.00 target price (up from $380.00) on shares of BlackRock in a report on Wednesday, July 12th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $434.93.
In other news, Director Susan Wagner sold 2,500 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares of the company’s stock, valued at approximately $200,685,963.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 522 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The disclosure for this sale can be found here. In the last three months, insiders sold 3,772 shares of company stock valued at $1,567,516. 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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