Dubuque Bank & Trust Co. trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,172 shares of the asset manager’s stock after selling 793 shares during the period. BlackRock accounts for 1.7% of Dubuque Bank & Trust Co.’s portfolio, making the stock its 16th largest holding. Dubuque Bank & Trust Co.’s holdings in BlackRock were worth $10,405,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Leisure Capital Management grew its stake in shares of BlackRock by 5.9% in the 2nd quarter. Leisure Capital Management now owns 1,462 shares of the asset manager’s stock worth $686,000 after buying an additional 82 shares in the last quarter. Chesley Taft & Associates LLC grew its stake in shares of BlackRock by 0.7% in the 2nd quarter. Chesley Taft & Associates LLC now owns 9,951 shares of the asset manager’s stock worth $4,670,000 after buying an additional 70 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in shares of BlackRock in the 2nd quarter worth $202,000. Zions Bancorporation N.A. grew its stake in shares of BlackRock by 7.7% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,626 shares of the asset manager’s stock worth $763,000 after buying an additional 116 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE grew its stake in shares of BlackRock by 13.3% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 850 shares of the asset manager’s stock worth $399,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 81.31% of the company’s stock.
BLK has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Wells Fargo & Co reissued a “buy” rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Barclays cut shares of Barrick Gold from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $15.00 to $18.00 in a research note on Tuesday, July 16th. UBS Group lifted their price objective on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Finally, Morgan Stanley raised shares of OIL SEARCH LTD/ADR from an “equal weight” rating to an “overweight” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $499.03.
Shares of BLK stock traded up $3.91 during trading hours on Tuesday, reaching $477.46. 398,160 shares of the stock were exchanged, compared to its average volume of 561,982. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $513.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. The stock’s 50-day moving average is $463.38. The company has a market cap of $74.15 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.71 and a beta of 1.52.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the firm posted $6.66 earnings per share. BlackRock’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts anticipate that BlackRock, Inc. will post 27.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.76%. BlackRock’s dividend payout ratio is presently 49.02%.
In other BlackRock news, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total value of $15,055,937.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff A. Smith sold 75 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $479.40, for a total transaction of $35,955.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,475 shares of company stock valued at $15,163,636. 1.42% of the stock is owned by corporate insiders.
BlackRock Company Profile
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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