Financial Counselors Inc. lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 42.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,289 shares of the asset manager’s stock after selling 8,274 shares during the period. Financial Counselors Inc.’s holdings in BlackRock were worth $5,047,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. increased its stake in BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 30 shares in the last quarter. Invictus RG bought a new stake in shares of BlackRock during the third quarter worth about $110,000. Enterprise Financial Services Corp boosted its holdings in BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares during the last quarter. Penserra Capital Management LLC purchased a new position in BlackRock during the second quarter worth about $104,000. Finally, Proficio Capital Partners LLC boosted its holdings in BlackRock by 1.2% during the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after purchasing an additional 3 shares during 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 the company’s stock in a transaction 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 sale, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total transaction of $48,158.00. The disclosure for this sale can be found here. Insiders sold a total of 5,200 shares of company stock valued at $2,599,302 in the last ninety days. 1.86% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on BLK shares. BidaskClub cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Barclays upped their target price on shares of BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. J P Morgan Chase & Co increased their price target on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 price target (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $489.08.
Shares of BlackRock, Inc. (NYSE:BLK) opened at $513.87 on Tuesday. BlackRock, Inc. has a 12 month low of $365.83 and a 12 month high of $515.60. The stock has a market cap of $82,330.00, a price-to-earnings ratio of 23.30, a PEG ratio of 1.75 and a beta of 1.80. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the company earned $5.14 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. analysts forecast that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be paid a $2.50 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.95%. BlackRock’s dividend payout ratio (DPR) is 46.82%.
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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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