Providence Capital Advisors LLC lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,618 shares of the asset manager’s stock after buying an additional 133 shares during the quarter. BlackRock makes up 1.8% of Providence Capital Advisors LLC’s holdings, making the stock its 7th largest holding. Providence Capital Advisors LLC’s holdings in BlackRock were worth $3,106,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Thoroughbred Financial Services LLC lifted its stake in BlackRock by 50,843.9% in the second quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock worth $48,550,000 after acquiring an additional 484,542 shares during the period. FIL Ltd raised its holdings in shares of BlackRock by 46.9% in the 1st quarter. FIL Ltd now owns 416,673 shares of the asset manager’s stock valued at $178,073,000 after purchasing an additional 132,984 shares in the last quarter. LA Financiere DE L Echiquier purchased a new stake in shares of BlackRock in the 2nd quarter worth approximately $32,265,000. CIBC Private Wealth Group LLC lifted its position in shares of BlackRock by 19.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 414,204 shares of the asset manager’s stock worth $194,386,000 after purchasing an additional 68,510 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in shares of BlackRock by 11.4% in the 1st quarter. Neuberger Berman Group LLC now owns 665,134 shares of the asset manager’s stock worth $284,258,000 after purchasing an additional 68,129 shares during the period. Hedge funds and other institutional investors own 81.93% of the company’s stock.
Shares of NYSE BLK traded up $4.37 during trading hours on Wednesday, hitting $432.71. 42,138 shares of the stock were exchanged, compared to its average volume of 612,430. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $492.00. The firm has a fifty day moving average price of $433.31 and a 200-day moving average price of $446.16. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.77. The company has a market cap of $66.60 billion, a PE ratio of 16.04, a PEG ratio of 1.59 and a beta of 1.52.
The firm also recently disclosed 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 of this dividend is Wednesday, September 4th. This represents a $13.20 annualized dividend and a dividend yield of 3.05%. BlackRock’s dividend payout ratio is presently 49.02%.
BLK has been the topic of several research reports. UBS Group lifted their price objective on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a report on Monday, July 8th. Barclays upped their target price on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Morgan Stanley increased their target price on BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and an average 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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