MAI Capital Management increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,662 shares of the asset manager’s stock after acquiring an additional 377 shares during the period. MAI Capital Management’s holdings in BlackRock were worth $4,083,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clarus Wealth Advisors bought a new position in BlackRock in the 2nd quarter valued at approximately $133,000. AlphaMark Advisors LLC bought a new position in BlackRock in the 2nd quarter valued at approximately $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in BlackRock in the 2nd quarter valued at approximately $150,000. Kaizen Advisory LLC lifted its stake 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 purchasing an additional 188 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC bought a new position in BlackRock in the 2nd quarter valued at approximately $202,000. Institutional investors and hedge funds own 82.80% of the company’s stock.
Several equities analysts recently 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 research note on Sunday, July 8th. Citigroup raised shares of BlackRock from a “neutral” rating to a “buy” rating in a research note on Monday, June 18th. Morgan Stanley dropped their price objective on shares of BlackRock from $624.00 to $607.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Keefe, Bruyette & Woods raised shares of BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 price objective for the company in a research note on Friday, July 13th. Finally, Barclays dropped their price objective on shares of BlackRock from $615.00 to $595.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. BlackRock presently has an average rating of “Buy” and a consensus target price of $590.62.
In other BlackRock news, Director William E. Ford purchased 1,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The stock was purchased at an average price of $467.92 per share, with a total value of $467,920.00. Following the completion of the purchase, the director now owns 5,400 shares of the company’s stock, valued at $2,526,768. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Laurence Fink sold 19,800 shares of the firm’s stock in a transaction on Wednesday, July 18th. The shares were 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. 1.75% of the stock is currently owned by company insiders.
BLK stock opened at $427.70 on Friday. The firm has a market cap of $75.22 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.46 and a beta of 1.55. BlackRock, Inc. has a 52-week low of $415.35 and a 52-week high of $594.52. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $6.55 by $0.11. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.24 earnings per share. On average, research analysts predict that BlackRock, Inc. will post 27.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 24th. Stockholders of record on Friday, September 7th were paid a dividend of $3.13 per share. The ex-dividend date was Thursday, September 6th. This represents a $12.52 annualized dividend and a dividend yield of 2.93%. This is an increase from BlackRock’s previous quarterly dividend of $2.88. BlackRock’s dividend payout ratio (DPR) is presently 55.40%.
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.
Further Reading: Earnings Per Share (EPS)
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