Lindenwold Advisors Grows Holdings in BlackRock, Inc. (NYSE:BLK)

Lindenwold Advisors grew its holdings in shares of BlackRock, Inc. (NYSE:BLKGet Rating) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,093 shares of the asset manager’s stock after buying an additional 89 shares during the quarter. BlackRock accounts for about 1.5% of Lindenwold Advisors’ investment portfolio, making the stock its 17th largest holding. Lindenwold Advisors’ holdings in BlackRock were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Steward Financial Group LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at approximately $27,000. Western Pacific Wealth Management LP acquired a new stake in shares of BlackRock during the 4th quarter valued at approximately $27,000. Sierra Capital LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at approximately $29,000. Confluence Wealth Services Inc. acquired a new stake in shares of BlackRock during the 4th quarter valued at approximately $35,000. Finally, Covestor Ltd acquired a new stake in shares of BlackRock during the 4th quarter valued at approximately $38,000. 93.81% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of BLK traded down $2.19 during trading hours on Friday, reaching $693.82. 12,640 shares of the company’s stock traded hands, compared to its average volume of 666,685. The firm has a market capitalization of $105.11 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 3.64 and a beta of 1.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.33 and a quick ratio of 4.33. BlackRock, Inc. has a twelve month low of $575.60 and a twelve month high of $973.16. The business’s fifty day simple moving average is $632.81 and its two-hundred day simple moving average is $688.64.

BlackRock (NYSE:BLKGet Rating) last announced its earnings results on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing the consensus estimate of $7.94 by ($0.58). BlackRock had a net margin of 30.12% and a return on equity of 15.72%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the business earned $10.03 EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts predict that BlackRock, Inc. will post 33.76 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Wednesday, September 7th will be paid a dividend of $4.88 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $19.52 annualized dividend and a yield of 2.81%. BlackRock’s dividend payout ratio is currently 51.46%.

Insider Activity at BlackRock

In related news, President Robert Kapito sold 37,588 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the transaction, the president now owns 226,680 shares in the company, valued at approximately $143,461,238.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup dropped their price target on BlackRock from $1,035.00 to $900.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. UBS Group dropped their price target on BlackRock from $825.00 to $718.00 in a research report on Monday, July 11th. Jefferies Financial Group initiated coverage on BlackRock in a research report on Wednesday, April 13th. They issued a “buy” rating and a $873.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on BlackRock from $747.00 to $725.00 in a research report on Wednesday, July 13th. Finally, The Goldman Sachs Group dropped their target price on BlackRock from $830.00 to $710.00 and set a “buy” rating on the stock in a research report on Wednesday, June 29th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $794.08.

BlackRock Company Profile

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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.

See Also

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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