Westhampton Capital LLC Invests $927,000 in BlackRock, Inc. (NYSE:BLK)

Westhampton Capital LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,975 shares of the asset manager’s stock, valued at approximately $927,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLK. Valley National Advisers Inc. raised its stake in shares of BlackRock by 81.8% in the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after buying an additional 27 shares in the last quarter. Ellis Investment Partners LLC bought a new stake in shares of BlackRock in the 1st quarter worth $26,000. Advisory Alpha LLC bought a new stake in shares of BlackRock in the 1st quarter worth $26,000. Massey Quick Simon & CO. LLC bought a new stake in shares of BlackRock in the 2nd quarter worth $31,000. Finally, MRA Associates USA LLC bought a new stake in shares of BlackRock in the 2nd quarter worth $33,000. 82.24% of the stock is currently owned by institutional investors.

Shares of BlackRock stock traded down $8.35 on Friday, reaching $410.65. 29,732 shares of the company were exchanged, compared to its average volume of 555,196. The stock has a fifty day moving average price of $455.29 and a 200-day moving average price of $446.58. The firm has a market capitalization of $64.66 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.51. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $492.00.

BlackRock (NYSE:BLK) last announced 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 company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $6.66 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 27.53 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be issued a dividend of $3.30 per share. The ex-dividend date is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.21%. BlackRock’s dividend payout ratio is 49.02%.

BLK has been the topic of a number of research reports. UBS Group boosted their price objective on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Barclays boosted their target price on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Morgan Stanley boosted their target price on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut 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. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price 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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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