Schnieders Capital Management LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 15.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 637 shares of the asset manager’s stock after selling 112 shares during the period. Schnieders Capital Management LLC’s holdings in BlackRock were worth $299,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Pillar Pacific Capital Management LLC increased its holdings in shares of BlackRock by 1.3% in the second quarter. Pillar Pacific Capital Management LLC now owns 17,639 shares of the asset manager’s stock valued at $8,279,000 after purchasing an additional 228 shares during the period. Semmax Financial Advisors Inc. increased its holdings in shares of BlackRock by 105.9% in the second quarter. Semmax Financial Advisors Inc. now owns 2,881 shares of the asset manager’s stock valued at $1,352,000 after purchasing an additional 1,482 shares during the period. Mirador Capital Partners LP increased its holdings 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 valued at $1,778,000 after purchasing an additional 129 shares during the period. Good Life Advisors LLC acquired a new position in shares of BlackRock in the second quarter valued at approximately $208,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in shares of BlackRock by 0.9% in the second 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. 82.24% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Barclays boosted their target price on BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Morgan Stanley boosted their target price on BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Finally, UBS Group boosted their target price on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $499.03.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $6.52 by ($0.11). BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the company earned $6.66 EPS. The company’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts predict that BlackRock, Inc. will post 27.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Wednesday, September 4th. BlackRock’s dividend payout ratio is presently 49.02%.
BlackRock Company 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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