North Star Investment Management Corp. Raises Stock Holdings in BlackRock, Inc. (NYSE:BLK)

North Star Investment Management Corp. boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 57.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,458 shares of the asset manager’s stock after buying an additional 900 shares during the period. North Star Investment Management Corp.’s holdings in BlackRock were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BLK. Nuveen Asset Management LLC increased its position in BlackRock by 20,980.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 895,908 shares of the asset manager’s stock valued at $420,451,000 after buying an additional 891,658 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in BlackRock by 50,843.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock valued at $48,550,000 after buying an additional 484,542 shares in the last quarter. FIL Ltd increased its position in BlackRock by 46.9% during the 1st quarter. FIL Ltd now owns 416,673 shares of the asset manager’s stock valued at $178,073,000 after buying an additional 132,984 shares in the last quarter. Invesco Ltd. increased its position in BlackRock by 32.9% during the 2nd quarter. Invesco Ltd. now owns 455,232 shares of the asset manager’s stock valued at $213,641,000 after buying an additional 112,605 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in BlackRock by 35.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 380,583 shares of the asset manager’s stock valued at $390,234,000 after buying an additional 100,075 shares in the last quarter. 81.83% of the stock is currently owned by institutional investors.

Shares of BLK stock traded up $4.43 during mid-day trading on Friday, reaching $424.04. The stock had a trading volume of 126,987 shares, compared to its average volume of 649,406. The business’s fifty day moving average is $428.19 and its 200-day moving average is $446.85. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77. The firm has a market cap of $67.04 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.53 and a beta of 1.54. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $487.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $6.66 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 27.52 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th were issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Wednesday, September 4th. BlackRock’s dividend payout ratio is presently 49.02%.

Several brokerages recently issued reports on BLK. UBS Group upped their target price on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Barclays upped their target price on BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Credit Suisse Group set a $567.00 target price on BlackRock and gave the company a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley upped their target price on BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. reduced their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $501.72.

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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