BlackRock, Inc. (NYSE:BLK) Shares Acquired by Wambolt & Associates LLC

Wambolt & Associates LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,306 shares of the asset manager’s stock after buying an additional 25 shares during the period. Wambolt & Associates LLC’s holdings in BlackRock were worth $613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. Comerica Securities Inc. raised its stake in shares of BlackRock by 6.4% during 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 60,941 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of BlackRock during the 1st quarter worth approximately $80,000. Aries Wealth Management purchased a new position in shares of BlackRock during the 1st quarter worth approximately $213,000. Finally, Fluent Financial LLC raised its stake in shares of BlackRock by 1.6% during the 1st quarter. Fluent Financial LLC now owns 2,581 shares of the asset manager’s stock worth $1,103,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.

NYSE BLK traded down $10.38 during mid-day trading on Wednesday, hitting $425.33. The stock had a trading volume of 275,933 shares, compared to its average volume of 499,647. BlackRock, Inc. has a 52-week low of $360.79 and a 52-week high of $494.91. The firm has a market cap of $69.26 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.66 and a beta of 1.51. The stock has a 50 day moving average price of $468.98. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83.

BlackRock (NYSE:BLK) last released its quarterly earnings data 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). BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The firm had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the business earned $6.66 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 27.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s payout ratio is currently 49.02%.

A number of equities analysts have recently issued reports on BLK shares. Morgan Stanley increased their target price on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Citigroup increased their target price on BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Co raised their price objective on BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a research note on Wednesday, April 17th. UBS Group raised their price objective on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their price objective on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $499.03.

BlackRock 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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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