Middleton & Co Inc MA Sells 950 Shares of BlackRock, Inc. (NYSE:BLK)

Middleton & Co Inc MA cut its holdings in BlackRock, Inc. (NYSE:BLK) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,118 shares of the asset manager’s stock after selling 950 shares during the period. Middleton & Co Inc MA’s holdings in BlackRock were worth $5,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of BLK. Comerica Securities Inc. increased its position in BlackRock by 6.4% in the 4th quarter. Comerica Securities Inc. now owns 2,912 shares of the asset manager’s stock worth $1,144,000 after buying an additional 174 shares during the period. Geode Capital Management LLC raised its position in BlackRock by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock worth $566,150,000 after purchasing an additional 60,941 shares during the last quarter. Legacy Advisors LLC bought a new position in BlackRock during the 1st quarter worth $80,000. Perkins Coie Trust Co raised its position in BlackRock by 2.6% during the 1st quarter. Perkins Coie Trust Co now owns 6,026 shares of the asset manager’s stock worth $2,576,000 after purchasing an additional 151 shares during the last quarter. Finally, Rockland Trust Co. raised its position in BlackRock by 3.5% during the 1st quarter. Rockland Trust Co. now owns 15,712 shares of the asset manager’s stock worth $6,715,000 after purchasing an additional 531 shares during the last quarter. 81.68% of the stock is owned by hedge funds and other institutional investors.

BLK stock opened at $448.22 on Monday. The stock has a 50-day simple moving average of $469.40. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $494.91. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49. The company has a market cap of $69.26 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.66 and a beta of 1.52.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $6.52 by ($0.11). BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the business posted $6.66 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts forecast that BlackRock, Inc. will post 27.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio (DPR) is presently 49.02%.

Several brokerages recently issued reports on BLK. Morgan Stanley raised their target price on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. UBS Group raised 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. Citigroup raised their target price on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Barclays raised their target price on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lowered their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $499.03.

About BlackRock

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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