Eagle Ridge Investment Management Trims Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Eagle Ridge Investment Management reduced its stake in BlackRock, Inc. (NYSE:BLK) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,877 shares of the asset manager’s stock after selling 487 shares during the period. BlackRock makes up approximately 1.6% of Eagle Ridge Investment Management’s portfolio, making the stock its 19th biggest position. Eagle Ridge Investment Management’s holdings in BlackRock were worth $11,205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BLK. Northern Trust Corp increased its stake in BlackRock by 0.7% during the first quarter. Northern Trust Corp now owns 1,677,656 shares of the asset manager’s stock worth $716,980,000 after purchasing an additional 11,082 shares during the period. Geode Capital Management LLC increased its stake in BlackRock by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock worth $566,150,000 after purchasing an additional 60,941 shares during the period. Neuberger Berman Group LLC increased its stake in BlackRock by 11.4% during the first quarter. Neuberger Berman Group LLC now owns 665,134 shares of the asset manager’s stock worth $284,258,000 after purchasing an additional 68,129 shares during the period. Flossbach Von Storch AG increased its stake in BlackRock by 9.5% during the first quarter. Flossbach Von Storch AG now owns 638,366 shares of the asset manager’s stock worth $272,818,000 after purchasing an additional 55,623 shares during the period. Finally, Thoroughbred Financial Services LLC increased its stake in BlackRock by 50,843.9% during the second quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock worth $48,550,000 after purchasing an additional 484,542 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Shares of BLK stock traded up $0.17 during trading hours on Thursday, reaching $411.54. 14,191 shares of the stock were exchanged, compared to its average volume of 539,973. The stock has a fifty day moving average price of $463.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $492.00. The stock has a market cap of $64.33 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.54 and a beta of 1.51.

BlackRock (NYSE:BLK) last released its earnings results 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). The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.66 earnings per share. As a group, research analysts predict that BlackRock, Inc. will post 27.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio (DPR) is 49.02%.

BLK has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Morgan Stanley upped their target price on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. UBS Group upped their target price on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Wells Fargo & Co upped their target price on shares of BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research note on Wednesday, April 17th. Finally, Barclays upped their target price on shares of BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. BlackRock currently has an average rating of “Buy” and an average price target of $499.03.

About BlackRock

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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