Nicholas Hoffman & Company LLC. raised its holdings in BlackRock, Inc. (NYSE:BLK) by 21.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 671 shares of the asset manager’s stock after buying an additional 118 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in BlackRock were worth $587,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Ausdal Financial Partners Inc. grew its position in shares of BlackRock by 7.4% in the first quarter. Ausdal Financial Partners Inc. now owns 348 shares of the asset manager’s stock valued at $262,000 after purchasing an additional 24 shares during the last quarter. Lakeview Capital Partners LLC acquired a new position in shares of BlackRock in the first quarter valued at approximately $401,000. Cadence Bank NA grew its position in shares of BlackRock by 11.8% in the first quarter. Cadence Bank NA now owns 435 shares of the asset manager’s stock valued at $328,000 after purchasing an additional 46 shares during the last quarter. Adviser Investments LLC grew its position in shares of BlackRock by 21.2% in the first quarter. Adviser Investments LLC now owns 12,875 shares of the asset manager’s stock valued at $9,707,000 after purchasing an additional 2,250 shares during the last quarter. Finally, Capital City Trust Co. FL grew its position in shares of BlackRock by 1.8% in the first quarter. Capital City Trust Co. FL now owns 10,328 shares of the asset manager’s stock valued at $7,786,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.
A number of brokerages recently issued reports on BLK. Credit Suisse Group reduced their price target on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Thursday, July 15th. Argus increased their price target on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research report on Thursday, July 15th. Citigroup raised their target price on BlackRock from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, July 12th. Morgan Stanley raised their target price on BlackRock from $944.00 to $1,017.00 and gave the company an “overweight” rating in a report on Friday, July 9th. Finally, UBS Group increased their price target on BlackRock from $890.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, July 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $953.31.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, July 13th. The asset manager reported $10.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.33 by $0.70. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.61 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.85 EPS. As a group, sell-side analysts forecast that BlackRock, Inc. will post 38.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th will be given a dividend of $4.13 per share. The ex-dividend date of this dividend is Friday, September 3rd. This represents a $16.52 annualized dividend and a dividend yield of 1.83%. BlackRock’s dividend payout ratio is currently 48.85%.
In other BlackRock news, Director Mark Wiedman sold 175 shares of the business’s stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $884.50, for a total transaction of $154,787.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Christopher J. Meade sold 2,106 shares of the business’s stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total transaction of $1,847,467.44. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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