Cohen & Steers Inc. reduced its position in BlackRock, Inc. (NYSE:BLK) by 17.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,019 shares of the asset manager’s stock after selling 4,926 shares during the period. Cohen & Steers Inc.’s holdings in BlackRock were worth $10,739,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Third Point LLC purchased a new position in BlackRock during the second quarter valued at approximately $654,736,000. Harbour Capital Advisors LLC grew its position in BlackRock by 38,807.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock valued at $2,848,000 after purchasing an additional 1,199,932 shares in the last quarter. Capital World Investors grew its position in BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. Vanguard Group Inc. grew its position in BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in BlackRock by 207.1% during the second quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock valued at $222,771,000 after purchasing an additional 355,630 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.
BlackRock, Inc. (BLK) traded up $508.97 during trading hours on Tuesday, reaching $508.97. 526,400 shares of the company traded hands, compared to its average volume of 428,300. The firm has a market cap of $81,600.00, a PE ratio of 23.83, a P/E/G ratio of 1.78 and a beta of 1.80. BlackRock, Inc. has a 1 year low of $365.83 and a 1 year high of $520.74. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned $5.14 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. research analysts forecast that BlackRock, Inc. will post 22.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Monday, December 4th were paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, December 1st. BlackRock’s dividend payout ratio is 46.82%.
In other news, Director J. Richard Kushel sold 100 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total value of $48,158.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan Wagner sold 4,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the transaction, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,200 shares of company stock valued at $2,599,302. Corporate insiders own 1.86% of the company’s stock.
BLK has been the topic of a number of research analyst reports. Barclays started coverage on shares of BlackRock in a research report on Friday, September 8th. They set an “overweight” rating and a $475.00 price objective on the stock. Jefferies Group reissued a “hold” rating and issued a $440.00 target price on shares of BlackRock in a research report on Tuesday, September 26th. Goldman Sachs Group raised shares of BlackRock from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $440.00 to $500.00 in a research report on Thursday, September 28th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research report on Tuesday, October 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $501.00 target price (up from $476.00) on shares of BlackRock in a research report on Thursday, October 5th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $489.08.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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