Stephens Inc. AR Reduces Stake in BlackRock, Inc. (NYSE:BLK)

Stephens Inc. AR lowered its stake in BlackRock, Inc. (NYSE:BLK) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,141 shares of the asset manager’s stock after selling 34 shares during the period. Stephens Inc. AR’s holdings in BlackRock were worth $2,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Comerica Securities Inc. grew its holdings in shares of BlackRock by 6.4% during the 4th quarter. Comerica Securities Inc. now owns 2,912 shares of the asset manager’s stock worth $1,144,000 after purchasing an additional 174 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BlackRock by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock worth $566,150,000 after purchasing an additional 60,941 shares in the last quarter. First Manhattan Co. grew its holdings in shares of BlackRock by 3.5% during the 1st quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock worth $302,000 after purchasing an additional 24 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of BlackRock by 11.8% during the 1st quarter. Wedbush Securities Inc. now owns 2,443 shares of the asset manager’s stock worth $1,044,000 after purchasing an additional 258 shares in the last quarter. Finally, Oakbrook Investments LLC grew its holdings in shares of BlackRock by 68.2% during the 1st quarter. Oakbrook Investments LLC now owns 7,265 shares of the asset manager’s stock worth $3,105,000 after purchasing an additional 2,945 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

Several research firms have recently issued reports on BLK. JPMorgan Chase & Co. reduced their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. UBS Group increased their target price on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Morgan Stanley increased their target price on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. Finally, Barclays increased their target price on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $499.03.

NYSE:BLK traded up $10.16 during trading hours on Friday, hitting $419.46. The company’s stock had a trading volume of 542,700 shares, compared to its average volume of 577,756. The stock has a fifty day simple moving average of $461.23 and a 200-day simple moving average of $446.90. The company has a market capitalization of $63.59 billion, a P/E ratio of 15.58, a PEG ratio of 1.52 and a beta of 1.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.92 and a quick ratio of 3.49. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $492.00.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing the consensus estimate of $6.52 by ($0.11). The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $6.66 earnings per share. On average, equities analysts predict that BlackRock, Inc. will post 27.53 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio (DPR) is presently 49.02%.

About BlackRock

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.

Recommended Story: How interest rates affect municipal bond prices

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.