Meadow Creek Investment Management LLC Boosts Stock Position in BlackRock, Inc. (NYSE:BLK)

Meadow Creek Investment Management LLC boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 45.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,190 shares of the asset manager’s stock after acquiring an additional 990 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in BlackRock were worth $1,497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Eastern Bank lifted its stake in shares of BlackRock by 1.1% during the 2nd quarter. Eastern Bank now owns 39,243 shares of the asset manager’s stock worth $18,417,000 after purchasing an additional 445 shares during the last quarter. BancorpSouth Bank lifted its stake in shares of BlackRock by 8.6% during the 2nd quarter. BancorpSouth Bank now owns 14,321 shares of the asset manager’s stock worth $6,721,000 after purchasing an additional 1,131 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of BlackRock by 13.8% during the 1st quarter. EP Wealth Advisors LLC now owns 37,649 shares of the asset manager’s stock worth $16,090,000 after purchasing an additional 4,555 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of BlackRock by 19.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 28,867 shares of the asset manager’s stock worth $12,337,000 after purchasing an additional 4,729 shares during the last quarter. Finally, Heritage Way Advisors LLC lifted its stake in shares of BlackRock by 1.4% during the 2nd quarter. Heritage Way Advisors LLC now owns 5,977 shares of the asset manager’s stock worth $2,805,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 81.93% of the company’s stock.

NYSE:BLK traded up $8.71 during mid-day trading on Friday, hitting $443.46. 20,307 shares of the company’s stock traded hands, compared to its average volume of 605,026. The company has a fifty day moving average of $432.46 and a 200 day moving average of $446.15. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $492.00. The company has a market capitalization of $68.10 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.58 and a beta of 1.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92.

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 the Thomson Reuters’ consensus estimate 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 net margin of 30.25% and a return on equity of 13.24%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.66 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 27.5 earnings per share for the current fiscal year.

The company 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 $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, September 4th. BlackRock’s dividend payout ratio is presently 49.02%.

BLK has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Barclays upped their target price on BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. UBS Group upped their target price on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Morgan Stanley upped 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, ValuEngine lowered BlackRock from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and a consensus target price of $499.03.

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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