Laurel Grove Capital LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 381.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,531 shares of the asset manager’s stock after acquiring an additional 8,345 shares during the quarter. BlackRock makes up about 2.5% of Laurel Grove Capital LLC’s investment portfolio, making the stock its 13th biggest position. Laurel Grove Capital LLC’s holdings in BlackRock were worth $4,964,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of BLK. Clarus Wealth Advisors acquired a new stake in BlackRock in the 2nd quarter valued at about $133,000. AlphaMark Advisors LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in BlackRock in the 2nd quarter valued at about $150,000. Kaizen Advisory LLC raised its holdings in BlackRock by 156.7% in the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock valued at $154,000 after acquiring an additional 188 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $202,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.
BlackRock stock opened at $427.70 on Friday. BlackRock, Inc. has a 1-year low of $415.35 and a 1-year high of $594.52. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. The company has a market capitalization of $75.22 billion, a PE ratio of 18.92, a PEG ratio of 1.46 and a beta of 1.55.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, July 16th. The asset manager reported $6.66 earnings per share for the quarter, beating the consensus estimate of $6.55 by $0.11. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same quarter in the prior year, the company posted $5.24 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities analysts forecast that BlackRock, Inc. will post 27.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Investors of record on Friday, September 7th were given a dividend of $3.13 per share. The ex-dividend date was Thursday, September 6th. This represents a $12.52 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from BlackRock’s previous quarterly dividend of $2.88. BlackRock’s dividend payout ratio (DPR) is presently 55.40%.
A number of analysts have commented on the stock. JPMorgan Chase & Co. set a $547.00 price objective on shares of BlackRock and gave the company a “buy” rating in a report on Sunday, July 8th. Citigroup upgraded shares of BlackRock from a “neutral” rating to a “buy” rating in a report on Monday, June 18th. Morgan Stanley cut their price objective on shares of BlackRock from $624.00 to $607.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Keefe, Bruyette & Woods upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 price objective for the company in a report on Friday, July 13th. Finally, Barclays cut their price objective on shares of BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $590.62.
In related news, Director William E. Ford acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was purchased at an average price of $507.98 per share, with a total value of $507,980.00. Following the transaction, the director now owns 4,400 shares of the company’s stock, valued at approximately $2,235,112. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Laurence Fink sold 19,800 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $507.67, for a total transaction of $10,051,866.00. Following the transaction, the chairman now directly owns 1,098,328 shares of the company’s stock, valued at approximately $557,588,175.76. The disclosure for this sale can be found here. Company insiders own 1.75% of the company’s stock.
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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