Profund Advisors LLC Has $1.43 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Profund Advisors LLC raised its position in BlackRock, Inc. (NYSE:BLK) by 51.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,042 shares of the asset manager’s stock after buying an additional 1,031 shares during the period. Profund Advisors LLC’s holdings in BlackRock were worth $1,428,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Eastern Bank boosted its position in 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 buying an additional 445 shares in the last quarter. BancorpSouth Bank lifted its position in shares of BlackRock by 8.6% during the second 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 in the last quarter. EP Wealth Advisors LLC lifted its position in shares of BlackRock by 13.8% during the first 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 in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of BlackRock by 19.6% during the first 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 in the last quarter. Finally, Heritage Way Advisors LLC lifted its position in shares of BlackRock by 1.4% during the second 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 in the last quarter. Hedge funds and other institutional investors own 81.93% of the company’s stock.

Shares of BLK traded up $8.21 on Friday, reaching $442.96. 556,191 shares of the company’s stock were exchanged, compared to its average volume of 595,070. The company has a current ratio of 2.92, a quick ratio of 2.92 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $67.20 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.52. The business has a 50 day moving average price of $431.71 and a two-hundred day moving average price of $446.17. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $492.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings results 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 business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.57 billion. BlackRock had a return on equity of 13.24% and a net margin of 30.25%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $6.66 earnings per share. Equities research analysts predict that BlackRock, Inc. will post 27.5 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Investors of record on Thursday, September 5th will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, September 4th. BlackRock’s dividend payout ratio (DPR) is 49.02%.

BLK has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley upped their target price on shares of BlackRock from $550.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. ValuEngine lowered shares of BlackRock from a “hold” rating to a “sell” rating in a research report on Wednesday. Barclays upped their target price on shares of BlackRock from $515.00 to $540.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Finally, UBS Group upped their target price on shares of BlackRock from $515.00 to $525.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $499.03.

About BlackRock

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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