American Money Management LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,932 shares of the asset manager’s stock after acquiring an additional 274 shares during the quarter. BlackRock makes up approximately 2.0% of American Money Management LLC’s holdings, making the stock its 21st largest position. American Money Management LLC’s holdings in BlackRock were worth $3,723,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Thoroughbred Financial Services LLC raised its stake in BlackRock by 50,843.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock valued at $48,550,000 after buying an additional 484,542 shares during the last quarter. FIL Ltd boosted its holdings in BlackRock by 46.9% in the 1st quarter. FIL Ltd now owns 416,673 shares of the asset manager’s stock worth $178,073,000 after buying an additional 132,984 shares during the period. LA Financiere DE L Echiquier bought a new position in BlackRock in the 2nd quarter worth $32,265,000. CIBC Private Wealth Group LLC boosted its holdings in shares of BlackRock by 19.8% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 414,204 shares of the asset manager’s stock valued at $194,386,000 after purchasing an additional 68,510 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of BlackRock by 11.4% during the 1st quarter. Neuberger Berman Group LLC now owns 665,134 shares of the asset manager’s stock valued at $284,258,000 after purchasing an additional 68,129 shares during the last quarter. 81.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of BLK traded up $6.17 during mid-day trading on Friday, reaching $440.92. 68,036 shares of the stock traded hands, compared to its average volume of 605,026. 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 stock has a fifty day simple moving average of $432.46 and a 200 day simple moving average of $446.15. The firm has a market cap of $68.10 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.58 and a beta of 1.52. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $492.00.
BlackRock (NYSE:BLK) last released 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 company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the company earned $6.66 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post 27.5 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. This represents a $13.20 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio (DPR) is currently 49.02%.
A number of research firms recently weighed in on BLK. Barclays increased their price objective on shares of BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. UBS Group increased their price objective on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. dropped their price objective on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Morgan Stanley increased their price objective on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, ValuEngine downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average 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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