Strategic Wealth Partners Ltd. increased its stake in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,759 shares of the asset manager’s stock after purchasing an additional 92 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in BlackRock were worth $1,344,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Orion Portfolio Solutions LLC lifted its holdings in shares of BlackRock by 12.8% during the first quarter. Orion Portfolio Solutions LLC now owns 1,594 shares of the asset manager’s stock worth $1,218,000 after purchasing an additional 181 shares during the period. Sawgrass Asset Management LLC purchased a new position in BlackRock in the first quarter worth $3,013,000. Nomura Holdings Inc. raised its position in BlackRock by 791.0% in the first quarter. Nomura Holdings Inc. now owns 5,524 shares of the asset manager’s stock worth $4,251,000 after acquiring an additional 4,904 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in BlackRock in the first quarter worth $14,048,000. Finally, Wealthfront Advisers LLC raised its position in BlackRock by 0.5% in the first quarter. Wealthfront Advisers LLC now owns 12,946 shares of the asset manager’s stock worth $9,893,000 after acquiring an additional 62 shares in the last quarter. 76.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have issued reports on BLK. Keefe, Bruyette & Woods cut their price objective on BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a research report on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $720.00 to $860.00 and gave the company a “buy” rating in a research report on Friday, August 12th. JPMorgan Chase & Co. dropped their price target on BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. StockNews.com upgraded BlackRock from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. Finally, The Goldman Sachs Group dropped their price target on BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $804.46.
BlackRock Stock Down 0.2 %
BlackRock (NYSE:BLK – Get Rating) last issued its quarterly earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a return on equity of 15.74% and a net margin of 30.12%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the business posted $10.03 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. On average, research analysts forecast that BlackRock, Inc. will post 33.92 EPS for the current year.
BlackRock Increases Dividend
The firm also recently declared a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, September 7th will be paid a $4.88 dividend. This is a positive change from BlackRock’s previous dividend of $2.29. The ex-dividend date is Tuesday, September 6th. BlackRock’s dividend payout ratio (DPR) is presently 51.46%.
Insiders Place Their Bets
In other news, CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Laurence Fink sold 44,500 shares of BlackRock stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $684.61, for a total value of $30,465,145.00. Following the transaction, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at approximately $385,963,264.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Mccombe sold 1,360 shares of BlackRock stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $739.79, for a total value of $1,006,114.40. Following the completion of the transaction, the director now directly owns 21,106 shares in the company, valued at $15,614,007.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,448 shares of company stock valued at $55,259,953. Insiders own 1.06% of the company’s stock.
BlackRock Company Profile
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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