Clarus Wealth Advisors lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 97.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 983 shares of the asset manager’s stock after buying an additional 485 shares during the period. Clarus Wealth Advisors’ holdings in BlackRock were worth $438,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of BLK. Advisory Alpha LLC acquired a new position in shares of BlackRock during the first quarter worth about $26,000. Virtus ETF Advisers LLC acquired a new position in shares of BlackRock during the second quarter worth about $27,000. Massey Quick Simon & CO. LLC acquired a new position in shares of BlackRock during the second quarter worth about $31,000. MRA Associates USA LLC acquired a new position in shares of BlackRock during the second quarter worth about $33,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of BlackRock during the second quarter worth about $33,000. 81.83% of the stock is owned by institutional investors.
Several research firms have recently weighed in on BLK. BMO Capital Markets started coverage on BlackRock in a research report on Monday. They set a “market perform” rating and a $547.00 price objective for the company. Morgan Stanley reduced their price target on BlackRock from $553.00 to $547.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. UBS Group increased their price target on BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Finally, Credit Suisse Group set a $567.00 price target on BlackRock and gave the company a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $500.60.
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 net margin of 30.25% and a return on equity of 13.24%. The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the business earned $6.66 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts predict that BlackRock, Inc. will post 27.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th were given a $3.30 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.04%. BlackRock’s payout ratio is 49.02%.
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.
Further Reading: Golden Cross
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