Regal Investment Advisors LLC cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,098 shares of the asset manager’s stock after selling 647 shares during the quarter. Regal Investment Advisors LLC’s holdings in BlackRock were worth $2,279,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. BlackRock Inc. boosted its position in shares of BlackRock by 2,775.4% in the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares during the period. Third Point LLC purchased a new stake in shares of BlackRock during the second quarter worth $654,736,000. Harbour Capital Advisors LLC raised its holdings in shares of 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 worth $2,848,000 after acquiring an additional 1,199,932 shares in the last quarter. Capital World Investors raised its holdings in shares of BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after acquiring an additional 810,667 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after acquiring an additional 656,569 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.
In other news, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the transaction, the director now owns 481,915 shares in the company, valued at $243,897,181.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Mccombe sold 1,000 shares of BlackRock stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total transaction of $478,990.00. The disclosure for this sale can be found here. Insiders have sold 8,875 shares of company stock worth $4,125,566 over the last ninety days. Company insiders own 1.86% of the company’s stock.
BlackRock, Inc. (NYSE:BLK) traded up $11.42 during mid-day trading on Monday, reaching $513.50. The company had a trading volume of 716,880 shares, compared to its average volume of 528,515. BlackRock, Inc. has a fifty-two week low of $365.83 and a fifty-two week high of $515.60. The firm has a market capitalization of $80,499.49, a P/E ratio of 23.30, a PEG ratio of 1.75 and a beta of 1.81. 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 quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.14 earnings per share. research analysts predict that BlackRock, Inc. will post 22.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, December 1st. BlackRock’s payout ratio is 46.82%.
Several equities analysts have weighed in on the company. Wells Fargo & Company restated a “market perform” rating and set a $475.00 target price (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. J P Morgan Chase & Co raised their target price on BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Thursday, October 12th. Jefferies Group reiterated a “hold” rating and issued a $465.00 price objective on shares of BlackRock in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 price objective on shares of BlackRock in a research note on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $489.08.
ILLEGAL ACTIVITY WARNING: “BlackRock, Inc. (NYSE:BLK) Shares Sold by Regal Investment Advisors LLC” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2017/12/05/blackrock-inc-blk-shares-sold-by-regal-investment-advisors-llc.html.
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.
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.