Lincoln Capital LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 13,862 shares of the asset manager’s stock after selling 18 shares during the period. BlackRock accounts for about 3.7% of Lincoln Capital LLC’s portfolio, making the stock its 10th largest position. Lincoln Capital LLC’s holdings in BlackRock were worth $5,855,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of BLK. BlackRock Inc. increased its stake in BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after buying an additional 6,314,004 shares during the last quarter. UBS Group AG increased its stake in BlackRock by 40.2% in the first quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after buying an additional 486,502 shares during the last quarter. Vanguard Group Inc. increased its stake in BlackRock by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,794,209 shares of the asset manager’s stock valued at $2,989,157,000 after buying an additional 250,431 shares during the last quarter. Clearbridge Investments LLC increased its stake in BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock valued at $597,206,000 after buying an additional 118,222 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in BlackRock by 134.9% in the first quarter. Renaissance Technologies LLC now owns 199,968 shares of the asset manager’s stock valued at $76,690,000 after buying an additional 114,854 shares during the last quarter. 80.37% of the stock is owned by institutional investors and hedge funds.
BlackRock, Inc. (BLK) traded up 0.35% during midday trading on Friday, hitting $424.16. The company had a trading volume of 807,059 shares. The company’s 50 day moving average is $428.03 and its 200 day moving average is $399.68. BlackRock, Inc. has a 12-month low of $336.84 and a 12-month high of $442.84. The stock has a market cap of $68.80 billion, a price-to-earnings ratio of 20.36 and a beta of 1.71.
BlackRock (NYSE:BLK) last announced its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15. BlackRock had a return on equity of 11.71% and a net margin of 29.24%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm earned $4.78 EPS. BlackRock’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post $21.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.36%. BlackRock’s payout ratio is 47.98%.
BLK has been the subject of several research reports. Deutsche Bank AG reissued a “buy” rating and issued a $441.00 target price (down from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $460.00 price objective (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. BidaskClub raised BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Bank of America Corporation reaffirmed a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. BlackRock currently has a consensus rating of “Buy” and an average target price of $434.93.
In other BlackRock news, insider Mark Mccombe sold 500 shares of BlackRock stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan Wagner sold 2,500 shares of BlackRock stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,772 shares of company stock worth $1,567,516. 1.86% of the stock is owned by corporate insiders.
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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