Tiverton Asset Management LLC Has $413,000 Holdings in BlackRock, Inc. (NYSE:BLK)
Tiverton Asset Management LLC lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 30.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 879 shares of the asset manager’s stock after selling 377 shares during the quarter. Tiverton Asset Management LLC’s holdings in BlackRock were worth $413,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Alpha LLC bought a new position in shares of BlackRock in the first quarter worth about $26,000. Massey Quick Simon & CO. LLC acquired a new position in BlackRock during the 2nd quarter valued at $31,000. MRA Associates USA LLC acquired a new position in BlackRock during the 2nd quarter valued at $33,000. SRS Capital Advisors Inc. bought a new stake in BlackRock in the 2nd quarter valued at $33,000. Finally, Harvest Group Wealth Management LLC bought a new stake in BlackRock in the 1st quarter valued at $37,000. Institutional investors own 81.93% of the company’s stock.
BLK has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Barclays boosted their price objective on BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, UBS Group upped their target price on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $499.03.
BlackRock (NYSE:BLK) last released its earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.11). The business had revenue of $3.52 billion for 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 revenue for the quarter 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. On average, equities analysts predict that BlackRock, Inc. will post 27.5 earnings per share for the current fiscal 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 paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Wednesday, September 4th. BlackRock’s dividend payout ratio (DPR) is 49.02%.
BlackRock Company 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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