Fayez Sarofim Co Lowers stake in BlackRock (BLK)

BlackRock (BLK) : Fayez Sarofim Co reduced its stake in BlackRock by 0.87% during the most recent quarter end. The investment management company now holds a total of 603,744 shares of BlackRock which is valued at $221,332,550 after selling 5,309 shares in BlackRock , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.BlackRock makes up approximately 1.20% of Fayez Sarofim Co’s portfolio.

Other Hedge Funds, Including , Blackrock Institutional Trust Company N.a. reduced its stake in BLK by selling 29,145 shares or 0.91% in the most recent quarter. The Hedge Fund company now holds 3,159,315 shares of BLK which is valued at $1,158,204,879. BlackRock makes up approx 0.18% of Blackrock Institutional Trust Company N.a.’s portfolio. Cribstone Capital Management added BLK to its portfolio by purchasing 90 company shares during the most recent quarter which is valued at $32,380. BlackRock makes up approx 0.02% of Cribstone Capital Management’s portfolio.Pioneer Trust Bank N Aor reduced its stake in BLK by selling 10 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 9,115 shares of BLK which is valued at $3,261,165. BlackRock makes up approx 1.92% of Pioneer Trust Bank N Aor’s portfolio.

BlackRock opened for trading at $369.93 and hit $372.98 on the upside on Friday, eventually ending the session at $372.05, with a gain of 0.34% or 1.26 points. The heightened volatility saw the trading volume jump to 3,78,941 shares. Company has a market cap of $61,114 M.

On the company’s financial health, BlackRock reported $4.78 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 14, 2016. Analyst had a consensus of $4.79. The company had revenue of $2804.00 million for the quarter, compared to analysts expectations of $2805.03 million. The company’s revenue was down -3.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $4.96 EPS.

Investors should note that on Jul 20, 2016, BlackRock announced a cash dividend of $2.2900. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 23, 2016.

Many Wall Street Analysts have commented on BlackRock. BlackRock was Downgraded by Keefe Bruyette to ” Mkt Perform” on Jul 15, 2016. Shares were Reiterated by Deutsche Bank on Jun 16, 2016 to “Buy” and Lowered the Price Target to $ 363 from a previous price target of $386 .

BlackRock Inc. is an investment management firm. The Company provides investment and risk management services to institutional and retail clients across the world. Its product offerings include single- and multi-asset class portfolios investing in equities fixed income alternatives and money market instruments. Products are offered directly and through intermediaries in a variety of vehicles including open-end and closed-end mutual funds iShares exchange-traded funds (ETFs) separate accounts collective investment funds and other pooled investment vehicles. The Company also offers its BlackRock Solutions investment and risk management technology platform Aladdin risk analytics and advisory services and solutions. It has $4.65 trillion of assets under management at December 31 2014.

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