Tower Research Capital LLC TRC raised its stake in BlackRock, Inc. (NYSE:BLK) by 198.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 726 shares of the asset manager’s stock after purchasing an additional 483 shares during the quarter. Tower Research Capital LLC TRC’s holdings in BlackRock were worth $373,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Invictus RG bought a new position in BlackRock in the third quarter valued at approximately $110,000. Oakworth Capital Inc. grew its stake in BlackRock by 67.6% in the fourth quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after purchasing an additional 123 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. grew its stake in BlackRock by 1,119.2% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock valued at $141,000 after purchasing an additional 291 shares in the last quarter. Manchester Capital Management LLC bought a new position in BlackRock in the third quarter valued at approximately $156,000. Finally, Penserra Capital Management LLC grew its stake in BlackRock by 48.8% in the third quarter. Penserra Capital Management LLC now owns 369 shares of the asset manager’s stock valued at $164,000 after purchasing an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 82.37% of the company’s stock.
BLK has been the subject of a number of analyst reports. Jefferies Group raised their price target on BlackRock to $565.00 and gave the company a “hold” rating in a research note on Monday, January 15th. Credit Suisse Group reiterated a “buy” rating and set a $680.00 target price on shares of BlackRock in a research note on Friday, January 12th. Citigroup lifted their target price on BlackRock to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research downgraded BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $555.00 target price (up from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $547.92.
BlackRock, Inc. (NYSE BLK) opened at $539.53 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock, Inc. has a one year low of $368.00 and a one year high of $594.52. The company has a market capitalization of $87,538.16, a P/E ratio of 17.81, a PEG ratio of 1.46 and a beta of 1.76.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $5.14 EPS. research analysts anticipate that BlackRock, Inc. will post 28.5 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio (DPR) is presently 33.00%.
In other news, Director Deryck C. Maughan purchased 3,861 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was acquired at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the acquisition, the director now owns 12,265 shares in the company, valued at approximately $7,033,241.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,311 shares of company stock valued at $10,255,887. 1.86% of the stock is currently owned by insiders.
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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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