Clearbridge Investments LLC Raises Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Clearbridge Investments LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 4.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,887 shares of the asset manager’s stock after purchasing an additional 2,707 shares during the period. Clearbridge Investments LLC’s holdings in BlackRock were worth $55,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Trustcore Financial Services LLC boosted its holdings in BlackRock by 4.2% in the second quarter. Trustcore Financial Services LLC now owns 299 shares of the asset manager’s stock valued at $262,000 after purchasing an additional 12 shares during the last quarter. Strategy Asset Managers LLC boosted its holdings in BlackRock by 2.2% in the second quarter. Strategy Asset Managers LLC now owns 549 shares of the asset manager’s stock valued at $481,000 after purchasing an additional 12 shares during the last quarter. Smith Salley & Associates lifted its holdings in BlackRock by 1.0% during the 2nd quarter. Smith Salley & Associates now owns 1,210 shares of the asset manager’s stock worth $1,059,000 after buying an additional 12 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in BlackRock by 1.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 804 shares of the asset manager’s stock worth $703,000 after buying an additional 13 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in BlackRock by 0.7% during the 2nd quarter. Clearstead Advisors LLC now owns 1,831 shares of the asset manager’s stock worth $1,602,000 after buying an additional 13 shares during the last quarter. 78.13% of the stock is owned by hedge funds and other institutional investors.

BLK opened at $867.81 on Thursday. BlackRock, Inc. has a 12 month low of $587.90 and a 12 month high of $959.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $132.08 billion, a P/E ratio of 24.39, a P/E/G ratio of 2.40 and a beta of 1.15. The stock’s 50 day moving average price is $895.01 and its 200 day moving average price is $866.24.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 12th. The asset manager reported $10.95 EPS for the quarter, beating the consensus estimate of $9.81 by $1.14. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The firm had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the firm earned $9.22 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 38.24 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were given a dividend of $4.13 per share. This represents a $16.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, September 3rd. BlackRock’s dividend payout ratio (DPR) is presently 48.85%.

A number of research analysts have commented on BLK shares. Credit Suisse Group reduced their target price on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Thursday, July 15th. Citigroup increased their target price on BlackRock from $1,030.00 to $1,035.00 and gave the stock a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating on the stock in a report on Thursday. Jefferies Financial Group increased their target price on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Finally, Argus raised their price target on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, July 15th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Buy” and an average target price of $952.93.

In other news, General Counsel Christopher J. Meade sold 2,106 shares of BlackRock stock in a transaction on Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total transaction of $1,847,467.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.16% of the stock is currently owned by company insiders.

BlackRock Company Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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