G&S Capital LLC raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 103.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,678 shares of the asset manager’s stock after purchasing an additional 3,904 shares during the period. BlackRock accounts for about 2.2% of G&S Capital LLC’s portfolio, making the stock its 19th biggest position. G&S Capital LLC’s holdings in BlackRock were worth $3,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. Northern Trust Corp raised its position in BlackRock by 0.7% during the first quarter. Northern Trust Corp now owns 1,677,656 shares of the asset manager’s stock valued at $716,980,000 after purchasing an additional 11,082 shares during the period. Geode Capital Management LLC raised its position in BlackRock by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after purchasing an additional 60,941 shares during the period. Pennsylvania Trust Co raised its position in BlackRock by 5,049.8% during the first quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock valued at $44,805,000 after purchasing an additional 1,063,080 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of BlackRock by 11.4% in the first quarter. Neuberger Berman Group LLC now owns 665,134 shares of the asset manager’s stock worth $284,258,000 after buying an additional 68,129 shares during the period. Finally, Flossbach Von Storch AG raised its holdings in shares of BlackRock by 9.5% in the first quarter. Flossbach Von Storch AG now owns 638,366 shares of the asset manager’s stock worth $272,818,000 after buying an additional 55,623 shares during the period. Institutional investors and hedge funds own 81.58% of the company’s stock.
BLK has been the topic of several recent analyst reports. Barclays downgraded Barrick Gold from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $15.00 to $18.00 in a report on Tuesday, July 16th. Wells Fargo & Co reiterated a “buy” rating on shares of Morgan Stanley in a report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Morgan Stanley upgraded OIL SEARCH LTD/ADR from an “equal weight” rating to an “overweight” rating in a report on Monday, July 22nd. Finally, UBS Group increased their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $499.03.
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). BlackRock had a return on equity of 13.23% and a net margin of 30.25%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company earned $6.66 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts predict that BlackRock, Inc. will post 27.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be paid 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 2.78%. BlackRock’s dividend payout ratio (DPR) is currently 49.02%.
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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