Parkside Financial Bank & Trust trimmed its position in BlackRock, Inc. (NYSE:BLK – Free Report) by 11.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 562 shares of the asset manager’s stock after selling 74 shares during the period. Parkside Financial Bank & Trust’s holdings in BlackRock were worth $442,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in BLK. Norges Bank purchased a new stake in BlackRock in the fourth quarter valued at $1,812,920,000. Capital World Investors raised its holdings in BlackRock by 57.3% in the 4th quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock valued at $2,853,517,000 after buying an additional 1,279,952 shares during the period. Capital Research Global Investors lifted its position in BlackRock by 23.7% in the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock valued at $3,181,346,000 after buying an additional 749,654 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in BlackRock by 24,171.5% during the first quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock worth $346,831,000 after buying an additional 414,300 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of BlackRock by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock valued at $10,990,052,000 after acquiring an additional 292,017 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.
Insider Buying and Selling
In other news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at $298,272,703.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the sale, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurence Fink sold 29,450 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at approximately $298,272,703.50. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 over the last three months. 0.90% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Read Our Latest Research Report on BLK
BlackRock Stock Down 1.1 %
BLK opened at $866.92 on Friday. The stock has a market capitalization of $128.82 billion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a one year low of $596.18 and a one year high of $903.46. The business’s 50-day simple moving average is $848.57 and its 200-day simple moving average is $811.77.
BlackRock (NYSE:BLK – Get Free Report) last announced its earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the company posted $9.28 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 41.34 EPS for the current year.
BlackRock Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 9th will be paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.
About BlackRock
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.
Featured Articles
- Five stocks we like better than BlackRock
- What Are the FAANG Stocks and Are They Good Investments?
- Does GTA VI Make Take-Two Interactive Stock an Irresistible Buy?
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- Why HPE’s Dip Is a Prime Opportunity for Blue-Chip AI Investors
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Why Analysts See Big Upside for Occidental Petroleum Despite Lows
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK – Free Report).
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.