Investment House LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 6.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,400 shares of the asset manager’s stock after acquiring an additional 255 shares during the quarter. Investment House LLC’s holdings in BlackRock were worth $2,065,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in BLK. Northern Trust Corp boosted its holdings in shares of BlackRock by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,677,656 shares of the asset manager’s stock worth $716,980,000 after acquiring an additional 11,082 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of BlackRock by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock worth $566,150,000 after acquiring an additional 60,941 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of BlackRock by 11.4% in the 1st quarter. Neuberger Berman Group LLC now owns 665,134 shares of the asset manager’s stock worth $284,258,000 after acquiring an additional 68,129 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in shares of BlackRock by 9.5% in the 1st quarter. Flossbach Von Storch AG now owns 638,366 shares of the asset manager’s stock worth $272,818,000 after acquiring an additional 55,623 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its holdings in shares of BlackRock by 50,843.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock worth $48,550,000 after acquiring an additional 484,542 shares in the last quarter. Institutional investors own 82.24% of the company’s stock.
NYSE:BLK traded down $4.33 during trading hours on Tuesday, hitting $421.23. 188,284 shares of the stock were exchanged, compared to its average volume of 566,313. The company’s 50 day moving average is $458.38 and its two-hundred day moving average is $446.52. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $492.00. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $64.84 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.51.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.11). BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The firm had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the company posted $6.66 EPS. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post 27.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio is 49.02%.
Several brokerages have recently commented on BLK. UBS Group boosted their target price on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Morgan Stanley boosted their target price on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Barclays boosted their target price on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. reduced their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $499.03.
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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