Pinkerton Retirement Specialists LLC increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,452 shares of the asset manager’s stock after purchasing an additional 261 shares during the period. Pinkerton Retirement Specialists LLC’s holdings in BlackRock were worth $2,090,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ellis Investment Partners LLC purchased a new position in shares of BlackRock during the first quarter valued at approximately $26,000. Valley National Advisers Inc. grew its position in BlackRock by 81.8% during the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock valued at $26,000 after buying an additional 27 shares during the period. Advisory Alpha LLC bought a new stake in BlackRock during the first quarter valued at approximately $26,000. Massey Quick Simon & CO. LLC bought a new stake in BlackRock during the second quarter valued at approximately $31,000. Finally, MRA Associates USA LLC bought a new stake in BlackRock during the second quarter valued at approximately $33,000. 82.24% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. UBS Group boosted their target price on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Morgan Stanley boosted their target price on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Barclays boosted their target price on shares of BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $499.03.
BlackRock (NYSE:BLK) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $3.57 billion. BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.66 earnings per share. On average, sell-side analysts expect that BlackRock, Inc. will post 27.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be given a $3.30 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.21%. BlackRock’s payout ratio is currently 49.02%.
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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