Penobscot Investment Management Company Inc. decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,295 shares of the asset manager’s stock after selling 220 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in BlackRock were worth $2,485,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of BLK. Destination Wealth Management increased its stake in BlackRock by 1.7% in the 1st quarter. Destination Wealth Management now owns 1,253 shares of the asset manager’s stock valued at $535,000 after buying an additional 21 shares during the period. Winslow Evans & Crocker Inc. boosted its position in shares of BlackRock by 11.6% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock worth $94,000 after purchasing an additional 22 shares in the last quarter. Bangor Savings Bank boosted its position in shares of BlackRock by 1.5% during the 2nd quarter. Bangor Savings Bank now owns 1,483 shares of the asset manager’s stock worth $696,000 after purchasing an additional 22 shares in the last quarter. SlateStone Wealth LLC boosted its position in shares of BlackRock by 0.6% during the 1st quarter. SlateStone Wealth LLC now owns 4,167 shares of the asset manager’s stock worth $1,781,000 after purchasing an additional 23 shares in the last quarter. Finally, First Manhattan Co. boosted its position in shares of BlackRock by 3.5% during the 1st quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock worth $302,000 after purchasing an additional 24 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.
NYSE:BLK traded up $11.99 on Friday, reaching $421.29. The stock had a trading volume of 11,978 shares, compared to its average volume of 563,631. The company has a market cap of $65.74 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 1.57 and a beta of 1.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.92 and a quick ratio of 3.49. The firm’s fifty day moving average is $462.13 and its two-hundred day moving average is $447.03. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $492.00.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing the Zacks’ consensus estimate of $6.52 by ($0.11). BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The company 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 earned $6.66 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts forecast that BlackRock, Inc. will post 27.53 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders 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 dividend yield of 3.13%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio is currently 49.02%.
Several equities research analysts have commented on BLK shares. Morgan Stanley boosted their target price on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Barclays boosted their target price 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 boosted their price objective on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research 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 company’s stock. The stock 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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