West Branch Capital LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 13.1% during the second quarter, Holdings Channel reports. The firm owned 2,229 shares of the asset manager’s stock after selling 335 shares during the period. West Branch Capital LLC’s holdings in BlackRock were worth $1,046,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Destination Wealth Management increased its holdings in shares of BlackRock by 1.7% in the 1st quarter. Destination Wealth Management now owns 1,253 shares of the asset manager’s stock valued at $535,000 after acquiring an additional 21 shares during the period. Winslow Evans & Crocker Inc. increased its holdings in shares of BlackRock by 11.6% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock valued at $94,000 after acquiring an additional 22 shares during the period. Bangor Savings Bank increased its holdings in shares of BlackRock by 1.5% in the 2nd quarter. Bangor Savings Bank now owns 1,483 shares of the asset manager’s stock valued at $696,000 after acquiring an additional 22 shares during the period. SlateStone Wealth LLC increased its holdings in shares of BlackRock by 0.6% in the 1st quarter. SlateStone Wealth LLC now owns 4,167 shares of the asset manager’s stock valued at $1,781,000 after acquiring an additional 23 shares during the period. Finally, Arrow Financial Corp increased its holdings in shares of BlackRock by 0.3% in the 1st quarter. Arrow Financial Corp now owns 8,701 shares of the asset manager’s stock valued at $3,719,000 after acquiring an additional 24 shares during the period. 82.24% of the stock is currently owned by institutional investors.

BLK has been the topic of a number of recent research reports. Barclays lifted their target price on shares of BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. UBS Group lifted their target price on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a report on Monday, July 8th. Morgan Stanley boosted their price objective on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. dropped their price objective 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. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and an average price target of $499.03.

BLK traded up $3.23 during trading on Wednesday, hitting $421.52. The stock had a trading volume of 9,498 shares, compared to its average volume of 566,313. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. The firm has a market capitalization of $64.84 billion, a P/E ratio of 15.67, a PEG ratio of 1.55 and a beta of 1.51. The company’s 50-day moving average price is $457.37 and its 200 day moving average price is $446.54. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $492.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.66 earnings per share. As a group, equities analysts expect that BlackRock, Inc. will post 27.53 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders of record on Thursday, September 5th will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 annualized dividend and a dividend yield of 3.13%. BlackRock’s payout ratio is currently 49.02%.

BlackRock Profile

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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