BlackRock, Inc. (BLK) Position Trimmed by Boston Private Wealth LLC
Boston Private Wealth LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 1.8% during the first quarter, HoldingsChannel reports. The firm owned 52,937 shares of the asset manager’s stock after selling 956 shares during the period. BlackRock comprises about 1.1% of Boston Private Wealth LLC’s portfolio, making the stock its 23rd biggest holding. Boston Private Wealth LLC’s holdings in BlackRock were worth $28,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Westover Capital Advisors LLC purchased a new stake in BlackRock in the first quarter valued at approximately $568,000. Citizens Financial Group Inc RI grew its position in BlackRock by 35,894.1% during the first quarter. Citizens Financial Group Inc RI now owns 12,238 shares of the asset manager’s stock valued at $6,630,000 after acquiring an additional 12,204 shares during the last quarter. Origin Asset Management LLP bought a new position in BlackRock during the first quarter valued at approximately $23,998,000. OppenheimerFunds Inc. grew its position in BlackRock by 94.6% during the first quarter. OppenheimerFunds Inc. now owns 153,269 shares of the asset manager’s stock valued at $83,029,000 after acquiring an additional 74,516 shares during the last quarter. Finally, Weik Capital Management bought a new position in BlackRock during the first quarter valued at approximately $312,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on BLK shares. Deutsche Bank reduced their price target on shares of BlackRock from $623.00 to $614.00 and set a “buy” rating on the stock in a research report on Friday, April 6th. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Credit Suisse Group increased their price target on shares of BlackRock from $678.00 to $682.00 and gave the company an “outperform” rating in a research report on Friday, April 13th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $640.00 price target on shares of BlackRock in a research report on Wednesday, March 14th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $566.62.
Shares of BlackRock stock opened at $534.23 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.02. BlackRock, Inc. has a 52-week low of $404.74 and a 52-week high of $594.52. The company has a market capitalization of $83.97 billion, a PE ratio of 23.64, a PEG ratio of 1.58 and a beta of 1.67.
BlackRock (NYSE:BLK) last issued its earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.39 by $0.31. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter last year, the business earned $5.25 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. analysts predict that BlackRock, Inc. will post 28.05 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th will be issued a $2.88 dividend. This represents a $11.52 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Wednesday, June 6th. BlackRock’s dividend payout ratio is 50.97%.
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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