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

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Wright Investors Service Inc. grew its position in BlackRock, Inc. (NYSE:BLK) by 6.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,175 shares of the asset manager’s stock after purchasing 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 SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Eastern Bank raised its stake in shares of BlackRock by 1.1% in the second quarter. Eastern Bank now owns 39,243 shares of the asset manager’s stock valued at $18,417,000 after acquiring an additional 445 shares during the period. BancorpSouth Bank raised its stake in shares of BlackRock by 8.6% in the 2nd quarter. BancorpSouth Bank now owns 14,321 shares of the asset manager’s stock worth $6,721,000 after buying an additional 1,131 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of 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 buying an additional 4,555 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of 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 buying an additional 4,729 shares in the last quarter. Finally, Heritage Way Advisors LLC raised its stake in shares of 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 buying an additional 80 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently commented on BLK shares. 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. Morgan Stanley boosted 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. Wells Fargo & Co boosted their price objective on BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research note on Wednesday, April 17th. Barclays boosted their price objective on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. 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 research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $499.03.

Shares of BlackRock 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 business has a fifty day simple moving average of $463.17. The stock has a market cap of $64.33 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.51. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. 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 13.23% 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. As a group, research analysts anticipate that BlackRock, Inc. will post 27.6 EPS for the current year.

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

BlackRock 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.

Further Reading: Economic Bubble

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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