Mirador Capital Partners LP Increases Position in BlackRock, Inc. (BLK)

Ivan Schwartz
July 17, 2017

Israel Discount Bank of New York GFN purchased a new position in BlackRock during the fourth quarter valued at $162,000. Hallmark Capital Management Inc now owns 38,908 shares worth $16,435,000. Institutional investors own 80.84% of the company's stock. BlackRock will spend $1 billion on technology and data solutions this year with over 3,500 employees in related roles including programming and quant analytics.

The stock increased 0.11% or $0.46 during the last trading session, hitting $436.70. The company's stock had a trading volume of 766,228 shares. The company has a 50-day moving average of $410.09 and a 200 day moving average of $390.31. The company has a market cap of $71.39 billion, a price-to-earnings ratio of 21.54 and a beta of 1.71. The margins are "subdued" during Aladdin's implementation process, but increased utilization and subsequent revenues will shift Aladdin to the front of BlackRock's operations.

Revenues rose 5.7% from a year ago to $2.96 billion, also missing analysts' view for $3.01 billion. For the last period, the company reported quarter over quarter EPS growth of 33.20% and quarter over quarter sales growth of 7.60%.

In terms of earnings per share, 13 analysts have a 5.60 EPS mean target for the quarter ending Sep-17, for the quarter ending Dec-17, 13 analysts have a 5.93 EPS mean target and for the quarter ending Dec-17 there are 14 estimates of 22.12 EPS.

The company also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Monday, June 5th were issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was set for Thursday the 1st of June 2017. BlackRock's dividend payout ratio (DPR) is presently 49.14%. Excluding certain items, BlackRock earned an adjusted $5.24 a share, up from $4.78 in the year prior.

Mirador Capital Partners LP Increases Position in BlackRock, Inc. (BLK)

ILLEGAL ACTIVITY WARNING: This piece of content was posted by BNB Daily and is the sole property of of BNB Daily. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and worldwide copyright and trademark legislation. The original version of this news story can be viewed at https://www.themarketsdaily.com/2017/07/16/comerica-securities-inc-acquires-1508-shares-of-blackrock-inc-nyseblk-updated.html.

Several research analysts recently weighed in on the stock. BidaskClub upgraded BlackRock from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 1st. Deutsche Bank AG reaffirmed a "buy" rating and issued a $441.00 price target (down previously from $449.00) on shares of BlackRock in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a "hold" rating and set a $387.00 target price on shares of BlackRock in a research report on Wednesday, May 17th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. The stock now has an average rating of "Buy" and a consensus target price of $428.36.

In that time period, BlackRock's stock has risen 15 percent, while the S&P 500 and the Financials Select Sector SPDR exchange traded fund have risen 9.8 percent and 6.9 percent, respectively.

Let's also take a brief look at the stock price in relation to some highs/lows and moving averages. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The shares were sold at an average price of $414.31, for a total transaction of $1,035,775.00. Following the transaction, the director now owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here.

Fink's comments were made on an earnings call highlighting the company's adaptation to a shifting geopolitical environment and a new wealth management industry centered on implementing technology. Aladdin will be a "transformation" for BlackRock to excel in portfolio construction and risk management.

Camilla Thurlow opens up about sex with Jamie Jewitt
In the Beach Hut, Sam says: "Jamie came down today with a bit of a smirk on his face..." "No!" a shocked Montana exclaimed. Before adding: 'I can confirm he's ideal , and he also has a flawless penis'. " What do YOU think? " says a sassy Camilla.

WhatsApp will soon launch In App YouTube playback for videos
WhatsApp , the popular messaging platform, has been making rapid strides into making the videos a key feature in the app. According to WABetaInfo , the feature is currently in the works and isn't available for the public right now.

1.2 million Accords face fire risk from faulty battery sensors — Honda recall
Moreover, there will be a 1.6 litre diesel engine option and a Hybrid version of the auto that will debut globally for sure. The vehicle is packed with best of the best technology and luxurious interiors to give an unsurpassed riding experience.

Other reports by GizPress

Discuss This Article