BlackRock, Inc. (BLK) Position Raised by RKL Wealth Management LLC
RKL Wealth Management LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 38.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,255 shares of the asset manager’s stock after purchasing an additional 625 shares during the quarter. RKL Wealth Management LLC’s holdings in BlackRock were worth $963,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Financial Architects Inc grew its stake in BlackRock by 0.7% during the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after buying an additional 2 shares during the period. Davis R M Inc. grew its stake in BlackRock by 0.4% during the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after buying an additional 2 shares during the period. National Asset Management Inc. grew its stake in BlackRock by 0.4% during the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock worth $275,000 after buying an additional 3 shares during the period. Proficio Capital Partners LLC grew its stake in BlackRock by 1.2% during the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after buying an additional 3 shares during the period. Finally, ZWJ Investment Counsel Inc. grew its stake in BlackRock by 0.4% during the second quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock worth $291,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.
BlackRock, Inc. (BLK) opened at 457.91 on Thursday. The stock has a 50 day moving average of $427.20 and a 200 day moving average of $411.21. The stock has a market capitalization of $74.28 billion, a P/E ratio of 21.98 and a beta of 1.72. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $457.94.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the consensus estimate of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the business earned $4.78 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts predict that BlackRock, Inc. will post $21.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a dividend of $2.50 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.18%. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
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In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeff A. Smith sold 522 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,447 shares of company stock worth $1,855,015. Corporate insiders own 1.86% of the company’s stock.
Several equities research analysts have issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $460.00 price objective (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Deutsche Bank AG reiterated a “buy” rating and set a $455.00 price objective (down from $465.00) on shares of BlackRock in a research note on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, August 18th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BlackRock has a consensus rating of “Buy” and an average price target of $458.15.
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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