Toronto Dominion Bank lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 91.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,229 shares of the asset manager’s stock after selling 65,775 shares during the period. Toronto Dominion Bank’s holdings in BlackRock were worth $50,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in BlackRock by 228.6% in the 2nd quarter. Larson Financial Group LLC now owns 46 shares of the asset manager’s stock valued at $25,000 after buying an additional 32 shares in the last quarter. Smith Asset Management Group LP grew its position in BlackRock by 360.0% in the 1st quarter. Smith Asset Management Group LP now owns 69 shares of the asset manager’s stock valued at $30,000 after buying an additional 54 shares in the last quarter. Watson Rebecca bought a new position in BlackRock in the 2nd quarter valued at about $30,000. Key Financial Inc bought a new position in BlackRock in the 1st quarter valued at about $40,000. Finally, Balentine LLC bought a new position in BlackRock in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 82.79% of the company’s stock.
In related news, Director Mark Mccombe sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $527.53, for a total value of $791,295.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark Wiedman sold 360 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $583.20, for a total value of $209,952.00. The disclosure for this sale can be found here. Insiders sold 50,748 shares of company stock valued at $29,248,701 over the last three months. 1.42% of the stock is owned by insiders.
A number of equities analysts recently issued reports on BLK shares. Morgan Stanley increased their target price on shares of BlackRock from $630.00 to $652.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Barclays upped their price target on shares of BlackRock from $515.00 to $580.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Citigroup upped their price target on shares of BlackRock from $630.00 to $685.00 and gave the company a “buy” rating in a report on Monday, July 20th. Zacks Investment Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating and set a $609.00 price target for the company. in a report on Tuesday, July 21st. Finally, Deutsche Bank cut their price target on shares of BlackRock from $565.00 to $563.00 and set a “hold” rating for the company in a report on Thursday, July 9th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $600.17.
BLK stock traded down $6.99 during mid-day trading on Thursday, reaching $582.76. 18,871 shares of the stock traded hands, compared to its average volume of 474,197. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. BlackRock, Inc. has a 52-week low of $323.98 and a 52-week high of $605.72. The company has a market cap of $89.84 billion, a P/E ratio of 20.57, a P/E/G ratio of 2.02 and a beta of 1.27. The stock’s fifty day moving average is $571.98 and its 200-day moving average is $514.39.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, July 17th. The asset manager reported $7.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.90 by $0.95. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.55 billion. BlackRock had a net margin of 29.55% and a return on equity of 14.17%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.41 earnings per share. Equities research analysts expect that BlackRock, Inc. will post 29.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th will be given a $3.63 dividend. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, September 3rd. BlackRock’s dividend payout ratio (DPR) is 50.98%.
BlackRock Company Profile
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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