Foster Victor Wealth Advisors LLC grew its stake in BlackRock, Inc. (NYSE:BLK) by 69.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,445 shares of the asset manager’s stock after buying an additional 1,408 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in BlackRock were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of BLK. Advisory Alpha LLC acquired a new stake in shares of BlackRock in the first quarter valued at about $26,000. Virtus ETF Advisers LLC acquired a new stake in shares of BlackRock in the second quarter valued at about $27,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of BlackRock in the second quarter valued at about $31,000. MRA Associates USA LLC acquired a new stake in shares of BlackRock in the second quarter valued at about $33,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of BlackRock in the second quarter valued at about $33,000. 81.83% of the stock is owned by institutional investors.
BLK has been the subject of several recent research reports. UBS Group increased their price target on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Barclays reissued a “buy” rating and issued a $485.00 price target on shares of BlackRock in a research note on Wednesday. BMO Capital Markets initiated coverage on BlackRock in a research note on Monday. They issued a “market perform” rating and a $547.00 price target for the company. JPMorgan Chase & Co. decreased their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, ValuEngine cut BlackRock from a “hold” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. BlackRock has a consensus rating of “Buy” and a consensus target price of $500.60.
NYSE BLK traded up $13.64 during trading hours on Friday, hitting $434.02. 530,371 shares of the company’s stock were exchanged, compared to its average volume of 618,476. The stock has a 50-day simple moving average of $428.84 and a 200 day simple moving average of $446.55. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $487.45. The firm has a market cap of $63.86 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.46 and a beta of 1.54. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77.
BlackRock (NYSE:BLK) last released its earnings results on Friday, July 19th. The asset manager reported $6.41 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 business 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 business earned $6.66 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that BlackRock, Inc. will post 27.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Investors of record on Thursday, September 5th were paid a dividend of $3.30 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $13.20 annualized dividend and a yield of 3.04%. BlackRock’s dividend payout ratio is currently 49.02%.
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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