Baldwin Investment Management LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,130 shares of the asset manager’s stock after selling 35 shares during the quarter. Baldwin Investment Management LLC’s holdings in BlackRock were worth $477,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 purchasing an additional 250,431 shares in the last quarter. BlackRock Inc. boosted its stake in BlackRock by 2,775.4% during the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after buying an additional 6,314,004 shares during the period. State Street Corp boosted its stake in BlackRock by 2.1% during the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after buying an additional 112,993 shares during the period. UBS Group AG boosted its stake in BlackRock by 40.2% during the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after buying an additional 486,502 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in BlackRock by 8.2% during the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock valued at $597,206,000 after buying an additional 118,222 shares during the period. Institutional investors own 82.77% of the company’s stock.
In other BlackRock news, insider Jeff A. Smith sold 250 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders have sold a total of 4,447 shares of company stock valued at $1,855,015 in the last three months. Insiders own 1.86% of the company’s stock.
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Morgan Stanley reissued an “overweight” rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Wells Fargo & Company reissued a “market perform” rating and set a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Deutsche Bank AG lifted their price objective on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective for the company in a research note on Tuesday, June 20th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. BlackRock presently has an average rating of “Buy” and an average target price of $449.08.
Shares of BlackRock, Inc. (NYSE BLK) opened at 428.72 on Friday. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84. The firm’s 50-day moving average price is $422.13 and its 200 day moving average price is $406.10. The company has a market cap of $69.54 billion, a price-to-earnings ratio of 20.58 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the consensus estimate of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the company earned $4.78 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts forecast that BlackRock, Inc. will post $21.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
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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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