Altium Wealth Management LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 26.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,958 shares of the asset manager’s stock after selling 1,064 shares during the period. Altium Wealth Management LLC’s holdings in BlackRock were worth $1,388,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Alpha LLC acquired a new stake in BlackRock during the first quarter worth approximately $26,000. Valley National Advisers Inc. grew its position in BlackRock by 81.8% during the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after buying an additional 27 shares in the last quarter. SevenBridge Financial Group LLC acquired a new stake in shares of BlackRock in the 2nd quarter valued at $38,000. Harvest Group Wealth Management LLC acquired a new stake in shares of BlackRock in the 1st quarter valued at $37,000. Finally, Rational Advisors LLC boosted its holdings in shares of BlackRock by 260.0% in the 1st quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
Shares of BlackRock stock opened at $431.32 on Tuesday. The company has a market cap of $69.26 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.66 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. BlackRock, Inc. has a one year low of $360.79 and a one year high of $494.91. The company has a 50-day moving average price of $469.16.BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $6.66 EPS. BlackRock’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that BlackRock, Inc. will post 27.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be paid a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.06%. BlackRock’s payout ratio is presently 49.02%.
A number of equities research analysts have weighed in on BLK shares. 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. Citigroup raised their price objective on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday, April 15th. Wells Fargo & Co raised their price objective on BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a report on Wednesday, April 17th. Morgan Stanley raised their target price on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, UBS Group raised their target price on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $499.03.
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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