First Interstate Bank lowered its position in BlackRock, Inc. (NYSE:BLK) by 3.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,887 shares of the asset manager’s stock after selling 73 shares during the period. First Interstate Bank’s holdings in BlackRock were worth $886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valley National Advisers Inc. increased 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 acquiring an additional 27 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of BlackRock in the 1st quarter worth $26,000. Advisory Alpha LLC acquired a new stake in shares of BlackRock in the 1st quarter worth $26,000. Harvest Group Wealth Management LLC acquired a new stake in shares of BlackRock in the 1st quarter worth $37,000. Finally, Rational Advisors LLC increased its stake in shares of BlackRock by 260.0% in the 1st quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock worth $38,000 after acquiring an additional 65 shares during the last quarter. 82.24% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:BLK traded up $5.08 during midday trading on Monday, reaching $424.54. 4,435 shares of the company’s stock were exchanged, compared to its average volume of 583,469. The firm’s 50 day simple moving average is $461.23 and its two-hundred day simple moving average is $446.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.92 and a quick ratio of 3.49. The stock has a market cap of $63.27 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.51 and a beta of 1.51. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $492.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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 business 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% compared to the same quarter last year. During the same period in the previous year, the business posted $6.66 earnings per share. Equities research analysts predict that BlackRock, Inc. will post 27.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Investors 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 3.11%. The ex-dividend date is Wednesday, September 4th. BlackRock’s payout ratio is 49.02%.

BLK has been the subject of a number of recent research reports. UBS Group raised their target price on BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Barclays raised their target price on BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. cut their target price on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Morgan Stanley raised their target price on BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target 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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