Guggenheim Capital LLC reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 108,400 shares of the asset manager’s stock after selling 4,090 shares during the quarter. Guggenheim Capital LLC’s holdings in BlackRock were worth $55,686,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Berkshire Asset Management LLC PA lifted its holdings in BlackRock by 33.0% during the fourth quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock worth $462,000 after acquiring an additional 223 shares during the period. New York State Common Retirement Fund lifted its holdings in BlackRock by 9.7% during the third quarter. New York State Common Retirement Fund now owns 357,800 shares of the asset manager’s stock worth $159,969,000 after acquiring an additional 31,600 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in BlackRock during the third quarter worth $1,778,000. Schwab Charles Investment Management Inc. lifted its holdings in BlackRock by 4.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 418,198 shares of the asset manager’s stock worth $186,973,000 after acquiring an additional 17,491 shares during the period. Finally, Sei Investments Co. lifted its holdings in BlackRock by 11.2% during the third quarter. Sei Investments Co. now owns 27,991 shares of the asset manager’s stock worth $12,515,000 after acquiring an additional 2,829 shares during the period. Institutional investors and hedge funds own 84.65% of the company’s stock.
A number of analysts recently commented on BLK shares. ValuEngine lowered BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Citigroup lowered BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target on the stock. in a report on Thursday, January 25th. Argus reiterated a “buy” rating and set a $620.00 price target (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Credit Suisse Group reiterated a “buy” rating and set a $680.00 price target on shares of BlackRock in a report on Friday, January 12th. Finally, Zacks Investment Research downgraded BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. BlackRock has a consensus rating of “Buy” and an average target price of $567.15.
In other news, insider Mark Mccombe sold 2,000 shares of BlackRock stock in a transaction on Monday, February 12th. The stock was sold at an average price of $520.64, for a total value of $1,041,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff A. Smith sold 425 shares of BlackRock stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total value of $240,533.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,961 shares of company stock valued at $11,375,444. 1.86% of the stock is owned by company insiders.
Shares of BlackRock, Inc. (NYSE BLK) opened at $558.96 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.94 and a quick ratio of 2.94. BlackRock, Inc. has a 52-week low of $368.00 and a 52-week high of $594.52. The stock has a market capitalization of $90,654.59, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.51 and a beta of 1.71.
BlackRock (NYSE:BLK) last released its 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. BlackRock had a return on equity of 12.31% and a net margin of 39.79%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business posted $5.14 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. equities analysts predict that BlackRock, Inc. will post 28.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be given a $2.88 dividend. This is an increase from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio (DPR) is currently 38.02%.
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BlackRock Company Profile
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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