Crawford Investment Counsel Inc. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,890 shares of the asset manager’s stock after selling 4,365 shares during the quarter. BlackRock comprises 2.5% of Crawford Investment Counsel Inc.’s investment portfolio, making the stock its 7th biggest position. Crawford Investment Counsel Inc. owned 0.11% of BlackRock worth $72,608,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Financial Architects Inc lifted its holdings in shares of BlackRock by 0.7% in the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock worth $123,000 after acquiring an additional 2 shares during the last quarter. Davis R M Inc. lifted its holdings in shares of BlackRock by 0.4% in the 2nd quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after acquiring an additional 2 shares during the last quarter. Eqis Capital Management Inc. lifted its holdings in shares of BlackRock by 0.5% in the 1st quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock worth $233,000 after acquiring an additional 3 shares during the last quarter. National Asset Management Inc. lifted its holdings in shares of BlackRock by 0.4% in the 1st quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock worth $275,000 after acquiring an additional 3 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of BlackRock by 1.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after acquiring an additional 3 shares during the last quarter. Institutional investors own 82.77% of the company’s stock.
Shares of BlackRock, Inc. (BLK) opened at 428.72 on Friday. The company’s 50-day moving average is $422.13 and its 200 day moving average is $406.10. BlackRock, Inc. has a 52 week low of $336.84 and a 52 week high of $442.84. The stock has a market capitalization of $69.54 billion, a P/E ratio of 20.58 and a beta of 1.71.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $4.78 earnings per share. On average, equities analysts forecast that BlackRock, Inc. will post $21.83 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.33%. BlackRock’s dividend payout ratio (DPR) is 47.98%.
BLK has been the topic of several recent analyst reports. BidaskClub upgraded shares of BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Morgan Stanley restated an “overweight” rating and issued a $460.00 price objective (up from $422.00) on shares of BlackRock in a report on Monday, July 10th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a report on Friday, July 14th. Finally, Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $449.08.
In other news, insider Jeff A. Smith sold 522 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total transaction of $220,033.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the business’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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,447 shares of company stock worth $1,855,015. 1.86% of the stock is currently 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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