MRA Associates USA LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 70 shares of the asset manager’s stock, valued at approximately $33,000.
Several other hedge funds have also recently made changes to their positions in BLK. Comerica Securities Inc. grew its holdings in BlackRock by 6.4% during the 4th quarter. Comerica Securities Inc. now owns 2,912 shares of the asset manager’s stock valued at $1,144,000 after buying an additional 174 shares during the last quarter. Geode Capital Management LLC boosted its holdings in BlackRock by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after acquiring an additional 60,941 shares during the last quarter. Winslow Evans & Crocker Inc. raised its position in BlackRock by 11.6% in the first quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock valued at $94,000 after purchasing an additional 22 shares during the period. Brinker Capital Inc. raised its position in BlackRock by 24.3% in the first quarter. Brinker Capital Inc. now owns 7,346 shares of the asset manager’s stock valued at $3,140,000 after purchasing an additional 1,437 shares during the period. Finally, Capital Investment Advisory Services LLC raised its position in BlackRock by 17.6% in the first quarter. Capital Investment Advisory Services LLC now owns 467 shares of the asset manager’s stock valued at $200,000 after purchasing an additional 70 shares during the period. Institutional investors own 82.24% of the company’s stock.
BLK has been the subject of a number of research reports. Barclays lifted their price target on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. reduced their price objective on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Morgan Stanley boosted 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, UBS Group boosted 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. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $499.03.
Shares of BLK traded down $7.69 during midday trading on Friday, reaching $411.31. The stock had a trading volume of 238,747 shares, compared to its average volume of 555,196. The firm has a 50 day simple moving average of $455.29 and a 200-day simple moving average of $446.58. BlackRock, Inc. has a one year low of $360.79 and a one year high of $492.00. The firm has a market cap of $64.66 billion, a PE ratio of 15.27, a P/E/G ratio of 1.55 and a beta of 1.51. 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 announced 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 company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the firm posted $6.66 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts forecast that BlackRock, Inc. will post 27.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s payout ratio is presently 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.
Read More: Hold Rating
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