Markel Corp raised its holdings in BlackRock, Inc. (NYSE:BLK) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 212,800 shares of the asset manager’s stock after acquiring an additional 6,100 shares during the quarter. BlackRock makes up about 1.5% of Markel Corp’s portfolio, making the stock its 15th largest holding. Markel Corp’s holdings in BlackRock were worth $99,867,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ellis Investment Partners LLC acquired a new stake in shares of BlackRock during the first quarter worth $26,000. Valley National Advisers Inc. increased its position in shares of 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 during the period. Advisory Alpha LLC acquired a new stake in shares of BlackRock during the first quarter worth $26,000. Harvest Group Wealth Management LLC acquired a new stake in shares of BlackRock during the first quarter worth $37,000. Finally, Rational Advisors LLC increased its position in shares of 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 during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.
Several equities research analysts have recently weighed in on BLK shares. JPMorgan Chase & Co. decreased their price objective on shares of 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 objective 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. Morgan Stanley increased their price objective 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. Finally, Barclays increased their price objective 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. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $499.03.
BlackRock (NYSE:BLK) last issued 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 company 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 firm’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.66 earnings per share. On average, analysts expect that BlackRock, Inc. will post 27.53 earnings per share for the current year.
The business also recently announced 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 annualized dividend and a yield of 3.15%. The ex-dividend date is Wednesday, September 4th. BlackRock’s dividend payout ratio is presently 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.
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