Wright Investors Service Inc. Grows Position in BlackRock, Inc. (NYSE:BLK)

Wright Investors Service Inc. boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 6.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,175 shares of the asset manager’s stock after acquiring an additional 135 shares during the quarter. Wright Investors Service Inc.’s holdings in BlackRock were worth $1,021,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. Valley National Advisers Inc. grew its position 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 acquiring an additional 27 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in BlackRock during the 1st quarter worth $26,000. Advisory Alpha LLC acquired a new stake in BlackRock during the 1st quarter worth $26,000. Harvest Group Wealth Management LLC acquired a new stake in BlackRock during the 1st quarter worth $37,000. Finally, Rational Advisors LLC raised its stake in BlackRock by 260.0% during the 1st quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock worth $38,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Shares of BLK stock traded up $0.17 on Thursday, reaching $411.54. 14,191 shares of the company were exchanged, compared to its average volume of 539,973. The stock has a market capitalization of $64.33 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.51. The firm has a 50-day simple moving average of $463.17. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.83. BlackRock, Inc. has a one year low of $360.79 and a one year high of $492.00.



BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the company earned $6.66 EPS. BlackRock’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 27.6 EPS for the current fiscal year.

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

Several analysts recently commented on BLK shares. Morgan Stanley raised their price objective on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Barclays boosted their price objective on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Wells Fargo & Co boosted their price objective on BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, UBS Group boosted their price objective on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $499.03.

About BlackRock

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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