NEXT Financial Group Inc raised its holdings in BlackRock, Inc. (NYSE:BLK) by 324.5% during the second quarter, Holdings Channel reports. The institutional investor owned 433 shares of the asset manager’s stock after buying an additional 331 shares during the quarter. NEXT Financial Group Inc’s holdings in BlackRock were worth $203,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Advisors Inc. lifted its position in BlackRock by 5.1% during the second quarter. Cornerstone Advisors Inc. now owns 624 shares of the asset manager’s stock valued at $293,000 after purchasing an additional 30 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in BlackRock by 2.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 30,948 shares of the asset manager’s stock valued at $14,524,000 after acquiring an additional 760 shares during the period. Viking Fund Management LLC lifted its holdings in BlackRock by 4.9% in the second quarter. Viking Fund Management LLC now owns 10,800 shares of the asset manager’s stock valued at $5,068,000 after acquiring an additional 500 shares during the period. Thoroughbred Financial Services LLC lifted its holdings in BlackRock by 50,843.9% in the second quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock valued at $48,550,000 after acquiring an additional 484,542 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in BlackRock by 7.5% in the second quarter. IFM Investors Pty Ltd now owns 8,404 shares of the asset manager’s stock valued at $3,944,000 after acquiring an additional 585 shares during the period. 81.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BLK stock traded down $13.42 during trading hours on Monday, hitting $434.80. 8,270 shares of the company’s stock were exchanged, compared to its average volume of 492,418. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $69.26 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.66 and a beta of 1.52. The business’s 50 day moving average price is $469.40. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $494.91.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $6.52 by ($0.11). BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the firm posted $6.66 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts predict that BlackRock, Inc. will post 27.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Wednesday, September 4th. BlackRock’s payout ratio is 49.02%.
A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Wells Fargo & Co boosted their price target on BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a report on Wednesday, April 17th. Citigroup upped their target price on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. UBS Group upped their target price on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Finally, Barclays upped their target price on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $499.03.
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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