B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lowered its holdings in BlackRock, Inc. (NYSE:BLK) by 55.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,031 shares of the asset manager’s stock after selling 2,551 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in BlackRock were worth $1,014,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in BLK. BlackRock Inc. increased its position in shares of BlackRock by 2.1% during the 2nd quarter. BlackRock Inc. now owns 7,601,685 shares of the asset manager’s stock valued at $3,793,546,000 after purchasing an additional 153,749 shares during the last quarter. Summit Trail Advisors LLC increased its position in shares of BlackRock by 53,902.3% during the 1st quarter. Summit Trail Advisors LLC now owns 1,274,454 shares of the asset manager’s stock valued at $1,274,000 after purchasing an additional 1,272,094 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of BlackRock by 2.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 476,036 shares of the asset manager’s stock valued at $237,562,000 after purchasing an additional 12,785 shares during the last quarter. Royal Bank of Canada increased its position in shares of BlackRock by 6.9% during the 1st quarter. Royal Bank of Canada now owns 452,599 shares of the asset manager’s stock valued at $245,183,000 after purchasing an additional 29,222 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of BlackRock by 1.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 448,835 shares of the asset manager’s stock valued at $243,142,000 after purchasing an additional 6,507 shares during the last quarter. 82.93% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on BLK. JPMorgan Chase & Co. reiterated a “focus list” rating and set a $547.00 price objective on shares of BlackRock in a research report on Monday, July 2nd. Keefe, Bruyette & Woods upgraded BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 price objective on the stock in a research report on Friday, July 13th. Goldman Sachs Group reduced their price objective on BlackRock to $570.00 and set a “buy” rating on the stock in a research report on Tuesday, July 17th. ValuEngine lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Finally, Deutsche Bank reduced their price objective on BlackRock from $570.00 to $561.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and an average target price of $594.25.
In other news, Chairman Laurence Fink sold 19,800 shares of BlackRock stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total value of $10,051,866.00. Following the sale, the chairman now directly owns 1,098,328 shares in the company, valued at approximately $557,588,175.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William E. Ford acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, July 18th. The stock was acquired at an average price of $507.98 per share, for a total transaction of $507,980.00. Following the completion of the transaction, the director now owns 4,400 shares in the company, valued at approximately $2,235,112. The disclosure for this purchase can be found here. 1.86% of the stock is currently owned by company insiders.
BLK opened at $468.98 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.87 and a current ratio of 3.87. BlackRock, Inc. has a 1 year low of $423.13 and a 1 year high of $594.52. The company has a market cap of $75.18 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.46 and a beta of 1.54.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.55 by $0.11. BlackRock had a return on equity of 13.20% and a net margin of 38.97%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company earned $5.24 EPS. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. research analysts forecast that BlackRock, Inc. will post 27.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 24th. Stockholders of record on Friday, September 7th will be given a $3.13 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $2.88. This represents a $12.52 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, September 6th. BlackRock’s dividend payout ratio (DPR) is currently 55.40%.
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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