Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 18.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,412 shares of the asset manager’s stock after purchasing an additional 4,664 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in BlackRock were worth $12,424,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Financial Architects Inc grew its holdings in BlackRock by 0.7% during the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after acquiring an additional 2 shares during the period. Davis R M Inc. grew its holdings in BlackRock by 0.4% during the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after acquiring an additional 2 shares during the period. Eqis Capital Management Inc. grew its holdings in BlackRock by 0.5% during the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock worth $233,000 after acquiring an additional 3 shares during the period. National Asset Management Inc. grew its holdings in BlackRock by 0.4% during the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock worth $275,000 after acquiring an additional 3 shares during the period. Finally, Proficio Capital Partners LLC grew its holdings in BlackRock by 1.2% during the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after acquiring an additional 3 shares during the period. 82.77% of the stock is currently owned by institutional investors.
BLK has been the topic of a number of research analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 target price on shares of BlackRock in a report on Wednesday, May 17th. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 target price on shares of BlackRock in a report on Monday, June 19th. 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 report on Tuesday, June 20th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Finally, Deutsche Bank AG lifted their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $449.08.
In related news, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were 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. Insiders sold 4,447 shares of company stock valued at $1,855,015 in the last quarter. 1.86% of the stock is currently owned by corporate insiders.
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BlackRock, Inc. (BLK) opened at 428.57 on Wednesday. The company has a 50 day moving average price of $422.40 and a 200-day moving average price of $405.26. The firm has a market cap of $69.52 billion, a price-to-earnings ratio of 20.57 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $442.84.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.78 EPS. Equities research analysts anticipate that BlackRock, Inc. will post $21.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.33%. BlackRock’s dividend payout ratio is presently 47.98%.
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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