Daiwa Securities Group Inc. cut its stake in BlackRock, Inc. (NYSE:BLK) by 34.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,749 shares of the asset manager’s stock after selling 2,463 shares during the period. Daiwa Securities Group Inc.’s holdings in BlackRock were worth $2,229,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Advisory Alpha LLC bought a new stake in shares of BlackRock in the first quarter worth $26,000. Valley National Advisers Inc. boosted its holdings in BlackRock by 81.8% in the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after purchasing an additional 27 shares during the period. SevenBridge Financial Group LLC acquired a new position in BlackRock in the second quarter worth $38,000. Harvest Group Wealth Management LLC acquired a new position in BlackRock in the first quarter worth $37,000. Finally, Rational Advisors LLC boosted its holdings in BlackRock by 260.0% in the first quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock worth $38,000 after purchasing an additional 65 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Citigroup boosted their price target on shares of BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday, April 15th. UBS Group boosted their price target on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a report on Monday, July 8th. Wells Fargo & Co boosted their price target on shares of BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley boosted their price target on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and an average target price of $499.03.BlackRock stock traded up $8.92 during midday trading on Tuesday, hitting $425.36. The company’s stock had a trading volume of 501,087 shares, compared to its average volume of 527,718. The business’s 50-day simple moving average is $464.77. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. The firm has a market capitalization of $65.75 billion, a P/E ratio of 15.80, a PEG ratio of 1.58 and a beta of 1.51. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $492.00.
BlackRock (NYSE:BLK) last announced 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). The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.66 EPS. As a group, equities analysts predict that BlackRock, Inc. will post 27.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a yield of 3.10%. BlackRock’s payout ratio is currently 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.
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