Foundations Investment Advisors LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 584 shares of the asset manager’s stock, valued at approximately $278,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Rockland Trust Co. boosted its stake in BlackRock by 3.6% in the second quarter. Rockland Trust Co. now owns 16,279 shares of the asset manager’s stock valued at $7,640,000 after acquiring an additional 567 shares in the last quarter. Park National Corp OH boosted its stake in BlackRock by 27.4% in the second quarter. Park National Corp OH now owns 22,513 shares of the asset manager’s stock valued at $10,565,000 after acquiring an additional 4,839 shares in the last quarter. First Financial Bank Trust Division boosted its stake in BlackRock by 1.5% in the second quarter. First Financial Bank Trust Division now owns 16,722 shares of the asset manager’s stock valued at $7,847,000 after acquiring an additional 240 shares in the last quarter. Weaver Consulting Group acquired a new position in BlackRock in the first quarter valued at $154,000. Finally, Horizon Investments LLC acquired a new position in BlackRock in the first quarter valued at $359,000. 81.31% of the stock is currently owned by institutional investors.
Several equities research analysts have recently weighed in on BLK shares. Barclays downgraded shares of Barrick Gold from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $15.00 to $18.00 in a research note on Tuesday, July 16th. JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Co reiterated a “buy” rating on shares of Morgan Stanley in a research note on Wednesday, April 17th. Zacks Investment Research downgraded shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. Finally, UBS Group increased their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $499.03.
In related news, insider Jeff A. Smith sold 150 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $478.29, for a total transaction of $71,743.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Laurence Fink sold 31,250 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock valued at $15,163,636 over the last three months. 1.42% of the stock is currently owned by corporate insiders.
Shares of BLK traded up $3.91 during mid-day trading on Tuesday, hitting $477.46. 398,160 shares of the company’s stock were exchanged, compared to its average volume of 561,982. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $513.00. The stock has a market cap of $74.15 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 1.71 and a beta of 1.52. The company has a 50 day simple moving average of $463.38. 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 (NYSE:BLK) last posted its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.11). The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.66 earnings per share. On average, analysts expect that BlackRock, Inc. will post 27.66 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 issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 annualized dividend and a yield of 2.76%. BlackRock’s dividend 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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