Rockland Trust Co. boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,986 shares of the asset manager’s stock after acquiring an additional 707 shares during the quarter. Rockland Trust Co.’s holdings in BlackRock were worth $7,127,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of BLK. Advisory Alpha LLC bought a new stake in shares of BlackRock in the 1st quarter valued at $26,000. Virtus ETF Advisers LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at $27,000. Massey Quick Simon & CO. LLC bought a new stake in shares of BlackRock in the 2nd quarter valued at $31,000. MRA Associates USA LLC bought a new position in BlackRock during the second quarter worth $33,000. Finally, Ellevest Inc. boosted its stake in BlackRock by 89.2% during the second quarter. Ellevest Inc. now owns 70 shares of the asset manager’s stock worth $33,000 after acquiring an additional 33 shares in the last quarter. 81.83% of the stock is currently owned by hedge funds and other institutional investors.
BLK traded up $14.52 during trading on Friday, hitting $434.90. 207,771 shares of the company’s stock were exchanged, compared to its average volume of 618,476. 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 business’s 50 day moving average is $428.84 and its two-hundred day moving average is $446.55. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $487.45. The stock has a market cap of $63.86 billion, a P/E ratio of 16.15, a PEG ratio of 1.46 and a beta of 1.54.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company posted $6.66 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock, Inc. will post 27.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th were issued a dividend of $3.30 per share. The ex-dividend date was Wednesday, September 4th. This represents a $13.20 annualized dividend and a yield of 3.04%. BlackRock’s payout ratio is 49.02%.
Several research analysts recently issued reports on the stock. ValuEngine lowered shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Thursday. Credit Suisse Group set a $567.00 target price on shares of BlackRock and gave the stock a “buy” rating in a research note on Thursday, September 12th. Barclays reissued a “buy” rating and set a $485.00 target price on shares of BlackRock in a research note on Wednesday. Morgan Stanley cut their target price on shares of BlackRock from $553.00 to $547.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, UBS Group increased their target price on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $500.60.
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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