Wafra Investment Advisory Group Inc. NY decreased its stake in BlackRock, Inc. (NYSE:BLK) by 36.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,112 shares of the asset manager’s stock after selling 9,323 shares during the period. Wafra Investment Advisory Group Inc. NY’s holdings in BlackRock were worth $6,806,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Salem Investment Counselors Inc. grew its stake in shares of BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after acquiring an additional 30 shares during the last quarter. Enterprise Financial Services Corp grew its stake in shares of BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after acquiring an additional 85 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of BlackRock in the second quarter worth $104,000. Proficio Capital Partners LLC grew its stake in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after acquiring an additional 85 shares during the last quarter. Finally, Harfst & Associates Inc. grew its stake in shares of BlackRock by 17.3% in the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.
In related news, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff A. Smith sold 250 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,447 shares of company stock valued at $1,855,015. 1.86% of the stock is owned by corporate insiders.
Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company restated a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research note on Thursday. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective on the stock in a research note on Tuesday, October 3rd. J P Morgan Chase & Co raised their price objective on shares of BlackRock from $556.00 to $558.00 and gave the stock an “overweight” rating in a research note on Thursday. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Thursday. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $465.00 target price on shares of BlackRock in a research report on Thursday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. BlackRock presently has an average rating of “Buy” and an average price target of $478.50.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the company earned $5.14 EPS. BlackRock’s revenue for the quarter was up 14.0% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were given 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 dividend yield of 2.11%. BlackRock’s dividend payout ratio is currently 47.98%.
BlackRock Company Profile
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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