Clarus Wealth Advisors lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 97.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 983 shares of the asset manager’s stock after buying an additional 485 shares during the period. Clarus Wealth Advisors’ holdings in BlackRock were worth $438,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Buckingham Capital Management Inc. lifted its stake in BlackRock by 1.6% in the first quarter. Buckingham Capital Management Inc. now owns 16,412 shares of the asset manager’s stock valued at $7,014,000 after purchasing an additional 259 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of BlackRock during the first quarter worth $362,000. Amundi Pioneer Asset Management Inc. lifted its position in shares of BlackRock by 27.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 280,508 shares of the asset manager’s stock worth $119,883,000 after acquiring an additional 60,236 shares in the last quarter. Hancock Whitney Corp lifted its position in shares of BlackRock by 9.6% during the first quarter. Hancock Whitney Corp now owns 4,104 shares of the asset manager’s stock worth $1,754,000 after acquiring an additional 358 shares in the last quarter. Finally, Advisory Alpha LLC purchased a new stake in shares of BlackRock during the first quarter worth $26,000. Hedge funds and other institutional investors own 81.83% of the company’s stock.
Several equities research analysts have issued reports on the company. Barclays restated a “buy” rating and set a $485.00 target price on shares of BlackRock in a research report on Wednesday. Morgan Stanley dropped their target price on BlackRock from $553.00 to $547.00 and set an “overweight” rating on the stock in a research report on Tuesday. Credit Suisse Group set a $567.00 target price on BlackRock and gave the stock a “buy” rating in a research report on Thursday, September 12th. ValuEngine downgraded BlackRock from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, UBS Group increased 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $500.60.
Shares of BlackRock stock traded up $13.64 during trading on Friday, hitting $434.02. The stock had a trading volume of 530,371 shares, compared to its average volume of 618,476. The firm has a market cap of $63.86 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.46 and a beta of 1.54. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $487.45. The business’s 50-day moving average is $428.84 and its 200 day moving average is $446.55. 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 released its quarterly earnings results 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 firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $6.66 EPS. As a group, equities analysts expect that BlackRock, Inc. will post 27.44 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th were issued a $3.30 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $13.20 annualized dividend and a dividend yield of 3.04%. BlackRock’s payout ratio is currently 49.02%.
BlackRock Company Profile
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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