Duality Advisers LP Acquires New Stake in BlackRock, Inc. (NYSE:BLK)
Duality Advisers LP bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 6,173 shares of the asset manager’s stock, valued at approximately $3,359,000.
A number of other institutional investors have also recently made changes to their positions in BLK. Larson Financial Group LLC boosted its stake in shares of BlackRock by 228.6% in the second quarter. Larson Financial Group LLC now owns 46 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 32 shares during the period. Sound Income Strategies LLC acquired a new stake in BlackRock during the 1st quarter worth approximately $27,000. Central Bank & Trust Co. purchased a new position in BlackRock in the 1st quarter valued at approximately $28,000. Smith Asset Management Group LP grew its stake in shares of BlackRock by 360.0% in the first quarter. Smith Asset Management Group LP now owns 69 shares of the asset manager’s stock worth $30,000 after acquiring an additional 54 shares in the last quarter. Finally, Watson Rebecca acquired a new position in shares of BlackRock in the second quarter worth $30,000. Institutional investors own 82.79% of the company’s stock.
In other news, Director Rachel Lord sold 3,000 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $499.31, for a total value of $1,497,930.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Christopher J. Meade sold 2,000 shares of the firm’s 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 53,388 shares of company stock valued at $30,536,679 over the last three months. Insiders own 1.42% of the company’s stock.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, July 17th. The asset manager reported $7.85 earnings per share for the quarter, topping analysts’ consensus estimates of $6.90 by $0.95. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.55 billion. BlackRock had a return on equity of 14.14% and a net margin of 29.55%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $6.41 EPS. As a group, research analysts predict that BlackRock, Inc. will post 29.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Friday, September 4th will be paid a dividend of $3.63 per share. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, September 3rd. BlackRock’s dividend payout ratio (DPR) is 50.98%.
BLK has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on BlackRock from $526.00 to $524.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Citigroup boosted their price objective on BlackRock from $630.00 to $685.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Zacks Investment Research cut shares of BlackRock from a “strong-buy” rating to a “hold” rating and set a $609.00 target price on the stock. in a report on Tuesday, July 21st. Barclays boosted their price target on shares of BlackRock from $515.00 to $580.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. Finally, UBS Group dropped their price objective on shares of BlackRock from $587.00 to $487.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $600.17.
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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