Commerzbank Aktiengesellschaft FI lessened its stake in BlackRock, Inc. (NYSE:BLK) by 85.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,798 shares of the asset manager’s stock after selling 16,673 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in BlackRock were worth $1,182,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC lifted its holdings in shares of BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after buying an additional 85 shares during the period. Enterprise Financial Services Corp raised its holdings in BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares during the period. Penserra Capital Management LLC acquired a new position in BlackRock in the 2nd quarter worth about $104,000. Kings Point Capital Management raised its holdings in BlackRock by 34.5% in the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after purchasing an additional 70 shares during the period. Finally, Financial Architects Inc raised its holdings in BlackRock by 0.7% in the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after purchasing an additional 2 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (NYSE:BLK) opened at 429.44 on Tuesday. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $442.84. The firm’s 50-day moving average price is $422.28 and its 200 day moving average price is $406.57. The stock has a market capitalization of $69.66 billion, a price-to-earnings ratio of 20.61 and a beta of 1.71.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $3.01 billion. During the same quarter in the previous year, the business posted $4.78 earnings per share. BlackRock’s revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post $21.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.33%. BlackRock’s payout ratio is 47.98%.
A number of equities analysts recently weighed in on BLK shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a report 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 report on Monday, June 19th. Barclays PLC started coverage on BlackRock in a report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target for the company. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a report on Tuesday, June 20th. Finally, Deutsche Bank AG upped their price target on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Tuesday, July 4th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $449.08.
In other news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,447 shares of company stock valued at $1,855,015. 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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