Wintrust Investments LLC reduced its holdings in BlackRock, Inc. (NYSE:BLK) by 11.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,751 shares of the asset manager’s stock after selling 878 shares during the quarter. Wintrust Investments LLC’s holdings in BlackRock were worth $3,168,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of BLK. Ellis Investment Partners LLC bought a new stake in BlackRock in the 1st quarter valued at about $26,000. Valley National Advisers Inc. lifted its position in BlackRock by 81.8% in the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 27 shares during the last quarter. Advisory Alpha LLC bought a new stake in BlackRock in the 1st quarter valued at about $26,000. Massey Quick Simon & CO. LLC bought a new stake in BlackRock in the 2nd quarter valued at about $31,000. Finally, Harvest Group Wealth Management LLC bought a new stake in BlackRock in the 1st quarter valued at about $37,000. Institutional investors own 82.24% of the company’s stock.
Several analysts recently weighed in on the stock. Barclays lifted their price objective on shares of BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Morgan Stanley lifted their price objective on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. UBS Group lifted their price objective on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. cut their price objective 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. BlackRock presently has an average rating of “Buy” and a consensus price target of $499.03.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm posted $6.66 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 27.53 earnings per share for the current 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 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 3.15%. BlackRock’s dividend payout ratio (DPR) is 49.02%.
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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