Toronto Dominion Bank Cuts Stake in BlackRock, Inc. (NYSE:BLK)
Toronto Dominion Bank lowered its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 38.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,054 shares of the asset manager’s stock after selling 66,652 shares during the quarter. Toronto Dominion Bank owned approximately 0.07% of BlackRock worth $49,292,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Eastern Bank lifted its holdings in shares of BlackRock by 1.1% in the second quarter. Eastern Bank now owns 39,243 shares of the asset manager’s stock worth $18,417,000 after buying an additional 445 shares in the last quarter. BancorpSouth Bank increased its holdings in BlackRock by 8.6% in the 2nd quarter. BancorpSouth Bank now owns 14,321 shares of the asset manager’s stock valued at $6,721,000 after acquiring an additional 1,131 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in BlackRock by 13.8% in the 1st quarter. EP Wealth Advisors LLC now owns 37,649 shares of the asset manager’s stock worth $16,090,000 after purchasing an additional 4,555 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in BlackRock by 19.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 28,867 shares of the asset manager’s stock worth $12,337,000 after purchasing an additional 4,729 shares in the last quarter. Finally, Heritage Way Advisors LLC lifted its stake in BlackRock by 1.4% in the 2nd quarter. Heritage Way Advisors LLC now owns 5,977 shares of the asset manager’s stock worth $2,805,000 after purchasing an additional 80 shares in the last quarter. 81.93% of the stock is currently owned by institutional investors.
BLK stock traded up $4.86 during trading on Wednesday, hitting $433.20. 278,049 shares of the company’s stock traded hands, compared to its average volume of 612,430. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $492.00. The stock has a market capitalization of $66.60 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.59 and a beta of 1.52. The business has a fifty day simple moving average of $433.31 and a 200 day simple moving average of $446.16. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be given a $3.30 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $13.20 annualized dividend and a yield of 3.05%. BlackRock’s dividend payout ratio is currently 49.02%.
A number of research analysts have recently weighed in on the company. Barclays raised 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. UBS Group boosted their target price on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. decreased 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. Finally, Morgan Stanley increased their price target on BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. BlackRock has a consensus rating of “Buy” and a consensus price target of $499.03.
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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