United Services Automobile Association lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,827 shares of the asset manager’s stock after selling 1,154 shares during the period. United Services Automobile Association owned about 0.05% of BlackRock worth $32,532,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BLK. Kings Point Capital Management raised its position in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock valued at $105,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of BlackRock during the first quarter valued at about $108,000. Peoples Financial Services CORP. purchased a new stake in shares of BlackRock during the first quarter valued at about $115,000. WFG Advisors LP increased its stake in shares of BlackRock by 61.8% in the fourth quarter. WFG Advisors LP now owns 998 shares of the asset manager’s stock valued at $117,000 after buying an additional 381 shares during the last quarter. Finally, Israel Discount Bank of New York GFN bought a new stake in shares of BlackRock during the fourth quarter valued at $162,000. 80.85% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (NYSE:BLK) traded up 0.19% during midday trading on Thursday, reaching $427.28. The company’s stock had a trading volume of 396,564 shares. The company has a market capitalization of $69.59 billion, a P/E ratio of 20.51 and a beta of 1.71. BlackRock, Inc. has a one year low of $336.84 and a one year high of $442.84. The stock’s 50-day moving average is $423.59 and its 200-day moving average is $394.28.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by $0.15. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.79%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.78 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post $21.90 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 2.34%. BlackRock’s payout ratio is currently 47.98%.
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Several analysts have weighed in on BLK shares. Deutsche Bank AG reiterated a “buy” rating and issued a $455.00 price objective (down previously from $465.00) on shares of BlackRock in a research report on Tuesday. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price for the company in a report on Tuesday, June 20th. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $387.00 price objective on shares of BlackRock in a report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research note on Friday, July 14th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $434.93.
In other news, insider Jeff A. Smith sold 522 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Mccombe sold 500 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,522 shares of company stock valued at $1,458,798. 1.86% of the stock is currently owned by corporate insiders.
BlackRock Company Profile
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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