Patton Albertson Miller Group LLC trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 662 shares of the asset manager’s stock after selling 30 shares during the period. Patton Albertson Miller Group LLC’s holdings in BlackRock were worth $360,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in BlackRock by 228.6% during the 2nd quarter. Larson Financial Group LLC now owns 46 shares of the asset manager’s stock worth $25,000 after purchasing an additional 32 shares during the last quarter. Watson Rebecca purchased a new stake in BlackRock in the second quarter worth about $30,000. Smith Asset Management Group LP lifted its holdings in BlackRock by 360.0% in the first quarter. Smith Asset Management Group LP now owns 69 shares of the asset manager’s stock worth $30,000 after buying an additional 54 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in BlackRock in the second quarter worth about $44,000. Finally, Key Financial Inc purchased a new stake in BlackRock in the first quarter worth about $40,000. 82.79% of the stock is owned by institutional investors.
Shares of BLK stock traded down $6.79 during trading hours on Thursday, hitting $582.96. 22,221 shares of the company’s stock traded hands, compared to its average volume of 474,197. The stock’s fifty day simple moving average is $571.98 and its two-hundred day simple moving average is $514.39. BlackRock, Inc. has a 12-month low of $323.98 and a 12-month high of $605.72. The stock has a market cap of $89.84 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.02 and a beta of 1.27. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 0.66.
BlackRock (NYSE:BLK) last released its earnings results on Friday, July 17th. The asset manager reported $7.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.90 by $0.95. The firm 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 business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $6.41 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post 29.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be given a dividend of $3.63 per share. This represents a $14.52 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, September 3rd. BlackRock’s dividend payout ratio (DPR) is currently 50.98%.
In related news, Director Mark Wiedman sold 360 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $583.20, for a total transaction of $209,952.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Christopher J. Meade sold 2,000 shares of BlackRock stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $526.04, for a total transaction of $1,052,080.00. The disclosure for this sale can be found here. Insiders have sold 50,748 shares of company stock valued at $29,248,701 in the last three months. 1.42% of the stock is owned by insiders.
Several analysts have commented on BLK shares. Argus raised their price objective on shares of BlackRock from $530.00 to $640.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Barclays raised their price objective on shares of BlackRock from $515.00 to $580.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Wells Fargo & Co raised their price objective on shares of BlackRock from $605.00 to $615.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Morgan Stanley raised their price objective on shares of BlackRock from $630.00 to $652.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Bank of America raised their price objective on shares of BlackRock from $633.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $600.17.
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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