Hayden Royal LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Hayden Royal LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 481 shares of the asset manager’s stock, valued at approximately $230,000.

Several other hedge funds have also added to or reduced their stakes in BLK. Ellis Investment Partners LLC purchased a new stake in BlackRock during the first quarter worth $26,000. Valley National Advisers Inc. boosted its holdings in BlackRock by 81.8% during the first quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock worth $26,000 after buying an additional 27 shares in the last quarter. Advisory Alpha LLC purchased a new stake in BlackRock during the first quarter worth $26,000. Harvest Group Wealth Management LLC purchased a new stake in BlackRock during the first quarter worth $37,000. Finally, Rational Advisors LLC boosted its holdings in BlackRock by 260.0% during the first quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock worth $38,000 after buying an additional 65 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

NYSE:BLK traded down $1.03 during trading hours on Thursday, reaching $410.34. 241,412 shares of the company were exchanged, compared to its average volume of 539,973. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.49 and a current ratio of 3.49. The stock has a 50-day moving average of $463.17. The firm has a market cap of $64.33 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 1.54 and a beta of 1.51. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $492.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.66 earnings per share. As a group, research analysts anticipate that BlackRock, Inc. will post 27.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 24th. Shareholders 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 yield of 3.22%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio is presently 49.02%.

A number of analysts recently issued reports on BLK shares. UBS Group increased their price target on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Barclays increased their price target on shares of BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Morgan Stanley increased their price target on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price target on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Wells Fargo & Co increased their price target on shares of BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and an average target price 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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