Benjamin Edwards Inc. lessened its position in shares of BlackRock (NYSE:BLK - Free Report) by 87.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,751 shares of the asset manager's stock after selling 33,542 shares during the quarter. Benjamin Edwards Inc.'s holdings in BlackRock were worth $4,497,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in BLK. GAMMA Investing LLC grew its stake in BlackRock by 104,598.9% during the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager's stock worth $3,312,759,000 after buying an additional 3,496,740 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in BlackRock by 401.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,095,241 shares of the asset manager's stock worth $1,122,743,000 after buying an additional 876,836 shares during the last quarter. Vanguard Group Inc. grew its stake in BlackRock by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager's stock worth $13,027,419,000 after buying an additional 387,466 shares during the last quarter. Ameriprise Financial Inc. grew its stake in BlackRock by 18.6% during the 4th quarter. Ameriprise Financial Inc. now owns 2,100,163 shares of the asset manager's stock worth $2,152,907,000 after buying an additional 329,244 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in BlackRock by 32.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager's stock worth $1,071,339,000 after buying an additional 279,336 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.
BlackRock Stock Performance
Shares of BLK stock opened at $1,124.20 on Monday. The stock has a fifty day moving average price of $1,054.94 and a 200 day moving average price of $985.12. The stock has a market cap of $174.17 billion, a PE ratio of 27.18, a P/E/G ratio of 2.26 and a beta of 1.42. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,131.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04.
BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.41 by $1.64. The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%. BlackRock's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm posted $10.36 earnings per share. Sell-side analysts forecast that BlackRock will post 47.41 earnings per share for the current fiscal year.
BlackRock Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 5th. BlackRock's payout ratio is 50.39%.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Argus reiterated a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. The Goldman Sachs Group reiterated a "buy" rating and issued a $1,115.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Bank of America lifted their target price on BlackRock from $1,214.00 to $1,224.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Telsey Advisory Group reiterated an "outperform" rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, UBS Group reiterated a "neutral" rating and issued a $980.00 target price on shares of BlackRock in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,151.21.
Check Out Our Latest Research Report on BlackRock
Insider Buying and Selling
In related news, Director Fabrizio Freda sold 4,434 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $1,122.81, for a total transaction of $4,978,539.54. Following the sale, the director owned 3,506 shares of the company's stock, valued at $3,936,571.86. This trade represents a 55.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the sale, the director directly owned 19,205 shares in the company, valued at approximately $21,617,148. The trade was a 48.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,494 shares of company stock valued at $74,694,573. 1.98% of the stock is owned by insiders.
About BlackRock
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLK - Free Report).
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