Sage Rhino Capital LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,371 shares of the asset manager’s stock after purchasing an additional 109 shares during the quarter. Sage Rhino Capital LLC’s holdings in BlackRock were worth $746,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in shares of 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 buying an additional 32 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of BlackRock in the first quarter valued at approximately $27,000. Central Bank & Trust Co. purchased a new stake in shares of BlackRock in the first quarter valued at approximately $28,000. Smith Asset Management Group LP increased its position in shares of BlackRock by 360.0% in the first 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. Finally, Watson Rebecca purchased a new stake in shares of BlackRock in the second quarter valued at approximately $30,000. 82.79% of the stock is currently owned by institutional investors.
Shares of BLK stock traded up $1.92 on Friday, hitting $575.01. The stock had a trading volume of 375,919 shares, compared to its average volume of 569,521. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.08 and a quick ratio of 4.08. The firm has a market capitalization of $88.70 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.96 and a beta of 1.27. BlackRock, Inc. has a 1 year low of $323.98 and a 1 year high of $592.48. The company’s 50 day moving average price is $556.48 and its 200-day moving average price is $509.32.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be issued a $3.63 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $14.52 annualized dividend and a dividend yield of 2.53%. BlackRock’s dividend payout ratio is presently 50.98%.
In other BlackRock news, General Counsel Christopher J. Meade sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $526.04, for a total transaction of $1,052,080.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 41,706 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $580.29, for a total value of $24,201,574.74. The disclosure for this sale can be found here. Insiders sold a total of 53,388 shares of company stock worth $30,536,679 in the last quarter. Company insiders own 1.42% of the company’s stock.
A number of analysts have recently issued reports on the company. Barclays lifted their price target on BlackRock from $515.00 to $580.00 and gave the stock an “overweight” rating in a research note on Monday, June 15th. UBS Group lowered their price target on BlackRock from $587.00 to $487.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley lifted their price target on BlackRock from $630.00 to $652.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Argus lifted their price target on BlackRock from $530.00 to $640.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Citigroup lifted their price target on BlackRock from $630.00 to $685.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target 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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