BlackRock, Inc. (BLK) is Papp L Roy & Associates’ 2nd Largest Position
Papp L Roy & Associates decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,248 shares of the asset manager’s stock after selling 1,122 shares during the period. BlackRock makes up about 4.6% of Papp L Roy & Associates’ investment portfolio, making the stock its 2nd largest position. Papp L Roy & Associates’ holdings in BlackRock were worth $24,576,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of BLK. Summit Trail Advisors LLC grew its holdings in shares of BlackRock by 53,902.3% in the first quarter. Summit Trail Advisors LLC now owns 1,274,454 shares of the asset manager’s stock worth $1,274,000 after purchasing an additional 1,272,094 shares during the last quarter. FIL Ltd grew its holdings in shares of BlackRock by 386.0% in the first quarter. FIL Ltd now owns 322,223 shares of the asset manager’s stock worth $174,555,000 after purchasing an additional 255,927 shares during the last quarter. BlackRock Inc. grew its holdings in shares of BlackRock by 2.6% in the first quarter. BlackRock Inc. now owns 7,447,936 shares of the asset manager’s stock worth $4,034,698,000 after purchasing an additional 192,139 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of BlackRock in the second quarter worth about $377,000. Finally, Altman Advisors Inc. grew its holdings in BlackRock by 3,276.3% during the 2nd quarter. Altman Advisors Inc. now owns 189,004 shares of the asset manager’s stock worth $2,140,000 after acquiring an additional 183,406 shares in the last quarter. Hedge funds and other institutional investors own 82.93% of the company’s stock.
In other BlackRock news, Director William E. Ford purchased 1,000 shares of BlackRock stock in a transaction on Thursday, August 2nd. The stock was bought at an average cost of $467.92 per share, with a total value of $467,920.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $2,526,768. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Laurence Fink sold 19,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.55 by $0.11. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.58 billion. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. BlackRock’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $5.24 EPS. research analysts anticipate that BlackRock, Inc. will post 27.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 24th. Shareholders of record on Friday, September 7th will be given a dividend of $3.13 per share. The ex-dividend date of this dividend is Thursday, September 6th. 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 yield of 2.63%. BlackRock’s dividend payout ratio (DPR) is currently 55.40%.
Several brokerages have issued reports on BLK. Barclays dropped their target price on shares of BlackRock from $615.00 to $595.00 and set an “overweight” rating on the stock in a report on Tuesday, July 17th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a report on Friday, August 31st. Citigroup upgraded shares of BlackRock from a “neutral” rating to a “buy” rating in a report on Monday, June 18th. ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Finally, JPMorgan Chase & Co. reiterated a “focus list” rating and set a $547.00 target price on shares of BlackRock in a report on Monday, July 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. BlackRock has an average rating of “Buy” and a consensus price target of $594.25.
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.
Featured Article: Risk Tolerance
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.