Bath Savings Trust Co acquired a new position in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 520 shares of the asset manager’s stock, valued at approximately $260,000.
Other hedge funds have also bought and sold shares of the company. Bamco Inc. NY purchased a new position in BlackRock in the first quarter worth $106,000. Princeton Capital Management LLC purchased a new position in BlackRock in the first quarter worth $115,000. Bray Capital Advisors purchased a new position in BlackRock in the first quarter worth $128,000. Clarus Wealth Advisors purchased a new position in BlackRock in the second quarter worth $133,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in BlackRock in the first quarter worth $139,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.
NYSE:BLK opened at $491.98 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.96 and a current ratio of 3.96. BlackRock, Inc. has a 52-week low of $408.62 and a 52-week high of $594.52. The firm has a market cap of $78.69 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.49 and a beta of 1.65.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.39 by $0.31. BlackRock had a return on equity of 12.76% and a net margin of 39.22%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the previous year, the company posted $5.25 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. research analysts forecast that BlackRock, Inc. will post 27.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 21st. Investors of record on Thursday, June 7th were paid a dividend of $2.88 per share. The ex-dividend date was Wednesday, June 6th. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.34%. BlackRock’s payout ratio is 50.97%.
In related news, Director William E. Ford acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The shares were bought at an average cost of $530.95 per share, for a total transaction of $530,950.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Marc D. Comerchero sold 400 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $524.84, for a total value of $209,936.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,066 shares of company stock worth $558,514. 1.86% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Citigroup raised BlackRock from a “neutral” rating to a “buy” rating in a research report on Monday, June 18th. Credit Suisse Group boosted their price objective on BlackRock from $678.00 to $682.00 and gave the stock an “outperform” rating in a research report on Friday, April 13th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $640.00 price objective on shares of BlackRock in a research report on Wednesday, March 14th. Deutsche Bank lowered their target price on BlackRock from $623.00 to $614.00 and set a “buy” rating on the stock in a research note on Friday, April 6th. Finally, Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a research note on Thursday, March 29th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $568.58.
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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