BlackRock, Inc. (NYSE:BLK) Holdings Raised by Probity Advisors Inc.

Probity Advisors Inc. grew its position in BlackRock, Inc. (NYSE:BLKGet Rating) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 879 shares of the asset manager’s stock after acquiring an additional 14 shares during the quarter. Probity Advisors Inc.’s holdings in BlackRock were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in BLK. Capital Analysts LLC grew its stake in BlackRock by 16.2% during the 2nd quarter. Capital Analysts LLC now owns 3,034 shares of the asset manager’s stock worth $1,847,000 after buying an additional 424 shares during the last quarter. Smith Moore & CO. grew its stake in BlackRock by 12.6% during the 2nd quarter. Smith Moore & CO. now owns 472 shares of the asset manager’s stock worth $288,000 after buying an additional 53 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in BlackRock by 19.2% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 7,030 shares of the asset manager’s stock worth $4,281,000 after buying an additional 1,134 shares during the last quarter. Fiduciary Group LLC grew its stake in BlackRock by 1.1% during the 2nd quarter. Fiduciary Group LLC now owns 3,386 shares of the asset manager’s stock worth $2,467,000 after buying an additional 37 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co grew its stake in BlackRock by 91.5% during the 2nd quarter. Varma Mutual Pension Insurance Co now owns 5,837 shares of the asset manager’s stock worth $3,554,000 after buying an additional 2,789 shares during the last quarter. 76.88% of the stock is currently owned by institutional investors.

BlackRock Trading Up 0.4 %

Shares of NYSE BLK traded up $2.87 during mid-day trading on Thursday, hitting $736.32. 489,127 shares of the company traded hands, compared to its average volume of 908,947. BlackRock, Inc. has a 1 year low of $503.12 and a 1 year high of $939.41. The stock has a market capitalization of $110.60 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 3.85 and a beta of 1.29. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average of $630.12 and a two-hundred day moving average of $642.49.

BlackRock (NYSE:BLKGet Rating) last posted its quarterly earnings results on Thursday, October 13th. The asset manager reported $9.55 earnings per share for the quarter, beating the consensus estimate of $7.73 by $1.82. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.17 billion. BlackRock had a return on equity of 15.07% and a net margin of 29.84%. BlackRock’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the firm earned $10.95 earnings per share. On average, sell-side analysts anticipate that BlackRock, Inc. will post 33.88 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Wednesday, December 7th will be given a dividend of $4.88 per share. This represents a $19.52 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Tuesday, December 6th. BlackRock’s payout ratio is 53.79%.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 40,960 shares of the company’s stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $732.25, for a total transaction of $29,992,960.00. Following the transaction, the chief executive officer now directly owns 508,211 shares of the company’s stock, valued at $372,137,504.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, Director Manish Mehta sold 1,350 shares of the company’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $742.81, for a total value of $1,002,793.50. Following the transaction, the director now directly owns 10,059 shares of the company’s stock, valued at approximately $7,471,925.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 40,960 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $732.25, for a total value of $29,992,960.00. Following the completion of the transaction, the chief executive officer now directly owns 508,211 shares in the company, valued at $372,137,504.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,860 shares of company stock valued at $44,060,191. Company insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. Evercore ISI reduced their price target on BlackRock to $640.00 in a research report on Thursday, October 20th. BMO Capital Markets reduced their price target on BlackRock from $495.00 to $481.00 and set a “market perform” rating for the company in a research report on Friday, October 14th. Morgan Stanley reduced their price target on BlackRock from $773.00 to $754.00 and set an “overweight” rating for the company in a research report on Monday, October 3rd. JPMorgan Chase & Co. reduced their price target on BlackRock from $716.00 to $666.00 and set an “overweight” rating for the company in a research report on Friday, October 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $642.00 to $846.00 and gave the stock a “buy” rating in a research report on Tuesday, November 15th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $703.92.

BlackRock Company Profile

(Get Rating)

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.

Read More

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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.