Guinness Asset Management Ltd Raises Position in BlackRock, Inc. (NYSE:BLK)

Guinness Asset Management Ltd grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 7,810.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,208 shares of the asset manager’s stock after buying an additional 51,548 shares during the quarter. BlackRock makes up about 4.0% of Guinness Asset Management Ltd’s investment portfolio, making the stock its 4th biggest position. Guinness Asset Management Ltd’s holdings in BlackRock were worth $24,502,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of BLK. Comerica Securities Inc. grew its stake in shares of BlackRock by 6.4% in the fourth quarter. Comerica Securities Inc. now owns 2,912 shares of the asset manager’s stock valued at $1,144,000 after buying an additional 174 shares in the last quarter. Geode Capital Management LLC raised its stake in BlackRock by 4.4% in 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 in the last quarter. Legacy Advisors LLC acquired a new stake in BlackRock in the 1st quarter worth about $80,000. Perkins Coie Trust Co raised its stake in BlackRock by 2.6% in 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 in the last quarter. Finally, Rockland Trust Co. grew its holdings 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 acquiring an additional 531 shares during the last quarter. 81.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BlackRock stock traded up $1.46 during trading on Tuesday, reaching $432.78. 14,370 shares of the company traded hands, compared to its average volume of 499,647. 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, Inc. has a 1-year low of $360.79 and a 1-year high of $494.91. The company has a 50 day moving average price of $469.16. The company has a market cap of $69.26 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 1.66 and a beta of 1.51.

BlackRock (NYSE:BLK) last released its earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $6.52 by ($0.11). BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the firm earned $6.66 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock, Inc. will post 27.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. BlackRock’s payout ratio is presently 49.02%.

A number of research analysts have recently issued reports on BLK shares. Morgan Stanley boosted their price target on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. UBS Group boosted their price target on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Barclays boosted their price target on shares of BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Wells Fargo & Co boosted their price target on shares of BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target 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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