Chartwell Investment Partners LLC increased its position in BlackRock, Inc. (NYSE:BLK) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,875 shares of the asset manager’s stock after purchasing an additional 1,045 shares during the period. Chartwell Investment Partners LLC’s holdings in BlackRock were worth $10,227,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Wafra Investment Advisory Group Inc. NY bought a new position in shares of BlackRock during the first quarter valued at $9,755,000. Palouse Capital Management Inc. bought a new position in shares of BlackRock during the first quarter valued at $6,680,000. Renaissance Technologies LLC lifted its holdings in shares of BlackRock by 134.9% during the first quarter. Renaissance Technologies LLC now owns 199,968 shares of the asset manager’s stock valued at $76,690,000 after purchasing an additional 114,854 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of BlackRock by 2,775.4% during the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock valued at $2,508,733,000 after purchasing an additional 6,314,004 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new position in shares of BlackRock during the first quarter valued at $226,000. 83.75% of the stock is currently owned by institutional investors.
BlackRock, Inc. (NYSE:BLK) traded up $0.59 during mid-day trading on Thursday, reaching $512.41. The company’s stock had a trading volume of 416,743 shares, compared to its average volume of 527,326. BlackRock, Inc. has a 52 week low of $365.83 and a 52 week high of $516.52. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. The company has a market capitalization of $82,109.23, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.81.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.14 earnings per share. sell-side analysts anticipate that BlackRock, Inc. will post 22.3 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be given a $2.50 dividend. 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%.
In other BlackRock news, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction dated Thursday, October 12th. The stock was 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 available at this hyperlink. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction dated 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 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. Company insiders own 1.86% of the company’s stock.
A number of brokerages have recently issued reports on BLK. Jefferies Group reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a report on Friday, August 18th. Zacks Investment Research downgraded BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $500.00 price target on shares of BlackRock in a report on Thursday, October 12th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. Finally, Barclays started coverage on BlackRock in a report on Friday, September 8th. They issued an “overweight” rating and a $475.00 target price on the stock. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target 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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