Argus Investors Counsel Inc. grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 96.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,190 shares of the asset manager’s stock after acquiring an additional 8,442 shares during the quarter. BlackRock comprises about 1.9% of Argus Investors Counsel Inc.’s holdings, making the stock its 29th largest position. Argus Investors Counsel Inc.’s holdings in BlackRock were worth $8,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Valley National Advisers Inc. increased its stake in shares of BlackRock by 81.8% during the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 27 shares during the last quarter. Ellis Investment Partners LLC purchased a new stake in shares of BlackRock during the 1st quarter worth about $26,000. Advisory Alpha LLC purchased a new stake in shares of BlackRock during the 1st quarter worth about $26,000. Harvest Group Wealth Management LLC purchased a new stake in shares of BlackRock during the 1st quarter worth about $37,000. Finally, Rational Advisors LLC grew its holdings in shares of BlackRock by 260.0% during the 1st 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. 81.31% of the stock is owned by institutional investors.
BLK has been the subject of a number of research reports. Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. Morgan Stanley upgraded OIL SEARCH LTD/ADR from an “equal weight” rating to an “overweight” rating in a report on Monday. UBS Group boosted their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Citigroup boosted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Morgan Stanley in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $499.03.
NYSE BLK traded up $3.91 on Tuesday, reaching $477.46. The company had a trading volume of 398,160 shares, compared to its average volume of 561,982. The firm has a market capitalization of $74.15 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.71 and a beta of 1.52. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $513.00. The firm’s 50-day moving average is $463.38. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83.
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 Zacks’ consensus estimate of $6.52 by ($0.11). The company had revenue of $3.52 billion during 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 firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.66 EPS. As a group, analysts forecast that BlackRock, Inc. will post 27.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio is presently 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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