Sterling Investment Advisors Ltd. decreased its position in BlackRock, Inc. (NYSE:BLK) by 5.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,328 shares of the asset manager’s stock after selling 250 shares during the quarter. BlackRock makes up 1.0% of Sterling Investment Advisors Ltd.’s portfolio, making the stock its 25th biggest holding. Sterling Investment Advisors Ltd.’s holdings in BlackRock were worth $2,031,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Mirador Capital Partners LP raised its stake in shares of BlackRock by 3.5% in the second quarter. Mirador Capital Partners LP now owns 3,789 shares of the asset manager’s stock worth $1,778,000 after buying an additional 129 shares during the period. Good Life Advisors LLC bought a new position in shares of BlackRock in the second quarter worth about $208,000. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in BlackRock by 0.9% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 10,241 shares of the asset manager’s stock valued at $4,806,000 after purchasing an additional 95 shares during the period. Westhampton Capital LLC bought a new stake in BlackRock during the 2nd quarter valued at approximately $927,000. Finally, Associated Banc Corp raised its stake in BlackRock by 3.6% during the 2nd quarter. Associated Banc Corp now owns 49,727 shares of the asset manager’s stock valued at $23,337,000 after purchasing an additional 1,739 shares during the period. 82.24% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on BLK shares. JPMorgan Chase & Co. decreased their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. UBS Group lifted their target price on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Barclays lifted their target price on BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley lifted their target price on BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research note 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 stock currently has a consensus 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 earnings per share for the quarter, missing the consensus estimate of $6.52 by ($0.11). The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.66 EPS. As a group, research analysts predict that BlackRock, Inc. will post 27.53 EPS for the current fiscal year.
The company 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 dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio is presently 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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