Investment House LLC Maintains Position in BlackRock Inc. (BLK)
Investment House LLC continued to hold its stake in BlackRock Inc. (NYSE:BLK) during the second quarter, Holdings Channel reports. The fund owned 1,280 shares of the company’s stock at the end of the second quarter. Investment House LLC’s holdings in BlackRock were worth $438,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Glenmede Trust Co. NA boosted its stake in shares of BlackRock by 5.3% in the first quarter. Glenmede Trust Co. NA now owns 68,969 shares of the company’s stock worth $23,487,000 after buying an additional 3,495 shares during the last quarter. Chesley Taft & Associates LLC boosted its stake in shares of BlackRock by 0.6% in the first quarter. Chesley Taft & Associates LLC now owns 11,085 shares of the company’s stock worth $3,775,000 after buying an additional 62 shares during the last quarter. PacWest Financial Management Inc boosted its stake in shares of BlackRock by 14.5% in the first quarter. PacWest Financial Management Inc now owns 7,504 shares of the company’s stock worth $2,555,000 after buying an additional 950 shares during the last quarter. Lodestar Investment Counsel LLC IL boosted its stake in shares of BlackRock by 74.9% in the first quarter. Lodestar Investment Counsel LLC IL now owns 26,488 shares of the company’s stock worth $9,021,000 after buying an additional 11,342 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in shares of BlackRock by 26.5% in the first quarter. ST Germain D J Co. Inc. now owns 1,617 shares of the company’s stock worth $551,000 after buying an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 81.58% of the company’s stock.
Shares of BlackRock Inc. (NYSE:BLK) traded up 0.95% on Thursday, reaching $373.87. 557,054 shares of the company traded hands. The company has a market capitalization of $61.49 billion, a P/E ratio of 19.92 and a beta of 1.45. BlackRock Inc. has a one year low of $280.55 and a one year high of $376.65. The firm’s 50 day moving average is $369.50 and its 200 day moving average is $354.66.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the business earned $4.96 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts expect that BlackRock Inc. will post $19.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd will be issued a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, August 31st. BlackRock’s dividend payout ratio is 48.83%.
A number of analysts have recently weighed in on the stock. Goldman Sachs Group Inc. cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the stock from $390.00 to $400.00 in a research note on Monday, August 8th. Deutsche Bank AG boosted their price objective on shares of BlackRock from $404.00 to $414.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Barclays PLC boosted their target price on shares of BlackRock from $364.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 24th. Vetr lowered shares of BlackRock from a “buy” rating to a “hold” rating and set a $382.97 target price on the stock. in a research report on Tuesday, August 16th. Finally, Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $382.94.
In other BlackRock news, Director J. Richard Kushel sold 8,000 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total transaction of $2,852,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Wagner sold 79,346 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $366.35, for a total value of $29,068,407.10. Following the sale, the director now directly owns 587,365 shares of the company’s stock, valued at approximately $215,181,167.75. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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