Xact Kapitalforvaltning AB raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 23,904 shares of the asset manager’s stock after buying an additional 637 shares during the period. Xact Kapitalforvaltning AB’s holdings in BlackRock were worth $9,167,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Garde Capital Inc. acquired a new position in shares of BlackRock during the third quarter valued at about $900,000. Lombard Odier & Cie Canada Limited Partnership acquired a new position in shares of BlackRock during the third quarter valued at about $250,000. Zacks Investment Management raised its position in shares of BlackRock by 7.0% in the third quarter. Zacks Investment Management now owns 124,534 shares of the asset manager’s stock valued at $45,139,000 after buying an additional 8,137 shares in the last quarter. FineMark National Bank & Trust raised its position in shares of BlackRock by 15.4% in the third quarter. FineMark National Bank & Trust now owns 29,226 shares of the asset manager’s stock valued at $9,513,000 after buying an additional 3,895 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of BlackRock by 0.4% in the third quarter. Venturi Wealth Management LLC now owns 15,721 shares of the asset manager’s stock valued at $5,698,000 after buying an additional 68 shares in the last quarter. 80.82% of the stock is currently owned by institutional investors.
BlackRock, Inc. (NYSE BLK) opened at 413.38 on Friday. BlackRock, Inc. has a one year low of $317.60 and a one year high of $414.09. The firm has a market capitalization of $67.33 billion, a price-to-earnings ratio of 20.31 and a beta of 1.72. The stock has a 50 day moving average price of $389.17 and a 200-day moving average price of $383.73.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, April 19th. The asset manager reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.31. BlackRock had a return on equity of 11.20% and a net margin of 28.44%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm earned $4.25 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that BlackRock, Inc. will post $21.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Monday, June 5th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $10.00 annualized dividend and a yield of 2.42%. BlackRock’s dividend payout ratio is currently 48.11%.
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Several research analysts recently issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $387.00 target price on shares of BlackRock in a research report on Wednesday, May 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BlackRock in a research report on Wednesday, March 8th. Morgan Stanley reaffirmed a “buy” rating on shares of BlackRock in a research report on Saturday, March 18th. Deutsche Bank AG upped their target price on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $464.00 target price on shares of BlackRock in a research report on Thursday, February 9th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. BlackRock presently has a consensus rating of “Hold” and an average price target of $410.70.
In other news, insider Mark Mccombe sold 500 shares of the firm’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% 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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
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