Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 21.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,823 shares of the asset manager’s stock after selling 500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in BlackRock were worth $936,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in BLK. Third Point LLC purchased a new position in BlackRock during the second quarter valued at approximately $654,736,000. Capital World Investors raised 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 acquiring an additional 810,667 shares in the last quarter. Vanguard Group Inc. raised 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 acquiring an additional 656,569 shares in the last quarter. BlackRock Inc. raised its position in BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after acquiring an additional 209,209 shares in the last quarter. Finally, Stifel Financial Corp raised its position in BlackRock by 2,450.2% during the third quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock valued at $81,105,000 after acquiring an additional 174,554 shares in the last quarter. Institutional investors own 83.55% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) opened at $590.26 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. The stock has a market capitalization of $95,059.02, a P/E ratio of 26.06, a PEG ratio of 1.58 and a beta of 1.81. BlackRock, Inc. has a 12 month low of $365.83 and a 12 month high of $590.56.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.14 earnings per share. research analysts predict that BlackRock, Inc. will post 28.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a $2.88 dividend. The ex-dividend date is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a dividend yield of 1.95%. BlackRock’s payout ratio is currently 33.00%.
Several research analysts recently weighed in on the company. Jefferies Group lifted their price target on BlackRock to $565.00 and gave the company a “hold” rating in a research report on Monday, January 15th. Citigroup lifted their price target on BlackRock to $625.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Wells Fargo & Co reissued a “market perform” rating and issued a $555.00 price objective (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Argus reissued a “buy” rating and issued a $620.00 price objective (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $680.00 price objective on shares of BlackRock in a report on Friday, January 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $547.92.
In other news, Director Deryck C. Maughan purchased 3,861 shares of the stock in a transaction dated Wednesday, January 17th. The shares were purchased at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the completion of the purchase, the director now directly owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the sale, the director now directly owns 481,915 shares in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders sold 4,525 shares of company stock worth $2,312,687 over the last ninety days. Corporate insiders own 1.86% of the company’s stock.
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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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