BlackRock, Inc. (NYSE:BLK) Shares Acquired by IBM Retirement Fund
IBM Retirement Fund raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 22.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,445 shares of the asset manager’s stock after purchasing an additional 640 shares during the period. IBM Retirement Fund’s holdings in BlackRock were worth $1,874,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of BlackRock by 3.7% during the first quarter. BlackRock Inc. now owns 8,255,110 shares of the asset manager’s stock worth $3,632,002,000 after purchasing an additional 295,599 shares in the last quarter. Wellington Management Group LLP increased its position in shares of BlackRock by 0.4% during the first quarter. Wellington Management Group LLP now owns 4,743,375 shares of the asset manager’s stock worth $2,086,943,000 after purchasing an additional 17,147 shares in the last quarter. Norges Bank acquired a new position in shares of BlackRock during the fourth quarter worth $1,218,129,000. Wells Fargo & Company MN increased its position in shares of BlackRock by 2.5% in the 1st quarter. Wells Fargo & Company MN now owns 2,190,239 shares of the asset manager’s stock valued at $963,639,000 after acquiring an additional 53,507 shares during the period. Finally, Morgan Stanley increased its position in shares of BlackRock by 2.0% in the 1st quarter. Morgan Stanley now owns 2,187,760 shares of the asset manager’s stock valued at $962,549,000 after acquiring an additional 43,802 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.
BLK has been the topic of several research reports. ValuEngine raised BlackRock from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Wells Fargo & Co upped their target price on BlackRock from $530.00 to $605.00 in a research report on Tuesday, June 2nd. UBS Group cut their target price on BlackRock from $587.00 to $487.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Deutsche Bank upped their price target on shares of BlackRock from $487.00 to $488.00 and gave the company a “hold” rating in a report on Friday, May 15th. Finally, Barclays upped their price target on shares of BlackRock from $515.00 to $580.00 and gave the company an “overweight” rating in a report on Monday, June 15th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $530.00.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Thursday, April 16th. The asset manager reported $6.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.36 by $0.24. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.68 billion. BlackRock had a net margin of 28.38% and a return on equity of 13.62%. BlackRock’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $6.61 EPS. Equities analysts predict that BlackRock, Inc. will post 27.1 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were paid a $3.63 dividend. This represents a $14.52 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, June 4th. BlackRock’s dividend payout ratio is presently 50.98%.
In other BlackRock news, President Robert Kapito sold 88,799 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $476.98, for a total value of $42,355,347.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Christopher J. Meade sold 2,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $526.04, for a total transaction of $1,052,080.00. The disclosure for this sale can be found here. Insiders sold a total of 101,345 shares of company stock worth $48,738,038 over the last ninety days. 1.42% of the stock is currently owned by corporate insiders.
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.
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.