Westhampton Capital LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,975 shares of the asset manager’s stock, valued at approximately $927,000.
A number of other large investors have also modified their holdings of the business. Valley National Advisers Inc. raised its holdings in shares of BlackRock by 81.8% in the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after purchasing an additional 27 shares during the period. Ellis Investment Partners LLC purchased a new position in shares of BlackRock in the 1st quarter worth about $26,000. Advisory Alpha LLC purchased a new position in shares of BlackRock in the 1st quarter worth about $26,000. Massey Quick Simon & CO. LLC purchased a new position in shares of BlackRock in the 2nd quarter worth about $31,000. Finally, MRA Associates USA LLC purchased a new position in shares of BlackRock in the 2nd quarter worth about $33,000. 82.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on BLK. Morgan Stanley raised their price objective on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Barclays raised their price objective on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. cut their price objective on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, UBS Group raised their price objective on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and an average price target of $499.03.
Shares of NYSE:BLK traded down $8.35 during mid-day trading on Friday, hitting $410.65. 29,732 shares of the company traded hands, compared to its average volume of 555,196. The firm has a market cap of $64.66 billion, a P/E ratio of 15.26, a PEG ratio of 1.55 and a beta of 1.51. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. BlackRock, Inc. has a 52-week low of $360.79 and a 52-week high of $492.00. The firm’s 50 day simple moving average is $455.29 and its 200 day simple moving average is $446.58.
BlackRock (NYSE:BLK) last announced its earnings results on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing the consensus estimate of $6.52 by ($0.11). The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.66 earnings per share. Equities research analysts expect that BlackRock, Inc. will post 27.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be issued a dividend of $3.30 per share. The ex-dividend date is Wednesday, September 4th. This represents a $13.20 annualized dividend and a dividend yield of 3.21%. BlackRock’s payout ratio is currently 49.02%.
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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