Sciencast Management LP acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 818 shares of the asset manager’s stock, valued at approximately $482,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Invictus RG acquired a new stake in shares of BlackRock during the 3rd quarter worth about $110,000. Sumitomo Mitsui Financial Group Inc. boosted its stake in shares of BlackRock by 1,119.2% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after purchasing an additional 291 shares during the last quarter. Assetmark Inc. boosted its stake in shares of BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after purchasing an additional 101 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of BlackRock by 67.6% during the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after purchasing an additional 123 shares during the last quarter. Finally, Manchester Capital Management LLC acquired a new stake in shares of BlackRock during the 3rd quarter worth about $156,000. 84.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO Robert L. Goldstein sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $558.00, for a total transaction of $2,790,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeff A. Smith sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total transaction of $240,533.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,961 shares of company stock worth $11,375,444. Insiders own 1.86% of the company’s stock.
BlackRock, Inc. (BLK) opened at $557.93 on Friday. The firm has a market cap of $89,670.00, a PE ratio of 24.17, a PEG ratio of 1.50 and a beta of 1.71. BlackRock, Inc. has a 1-year low of $368.00 and a 1-year high of $594.52. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.93.
BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.14 EPS. research analysts anticipate that BlackRock, Inc. will post 28.49 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio is presently 49.91%.
Several equities research analysts have issued reports on the stock. Citigroup cut shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target on the stock. in a research note on Thursday, January 25th. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $640.00 price target on shares of BlackRock in a research note on Wednesday. Wells Fargo & Co reaffirmed a “market perform” rating and set a $555.00 price target (up from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Finally, Argus reaffirmed a “buy” rating and set a $620.00 price target (up from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $567.15.
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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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