Guggenheim Capital LLC cut its holdings in BlackRock (NYSE:BLK) by 3.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 108,400 shares of the asset manager’s stock after selling 4,090 shares during the quarter. Guggenheim Capital LLC owned about 0.07% of BlackRock worth $55,686,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Invictus RG acquired a new position in shares of BlackRock in the 3rd quarter valued at approximately $110,000. Assetmark Inc. grew its position in shares of BlackRock by 57.1% in the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 101 shares during the period. Oakworth Capital Inc. grew its position in shares of BlackRock by 67.6% in the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after purchasing an additional 123 shares during the period. Sumitomo Mitsui Financial Group Inc. boosted its position in 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 acquiring an additional 291 shares during the last quarter. Finally, Manchester Capital Management LLC acquired a new position in BlackRock during the 3rd quarter worth approximately $156,000. Institutional investors and hedge funds own 84.77% of the company’s stock.
In related news, insider Jeff A. Smith sold 425 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total value of $240,533.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ryan Stork sold 7,136 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $543.50, for a total value of $3,878,416.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,961 shares of company stock worth $11,375,444. Company insiders own 1.86% of the company’s stock.
Shares of BlackRock stock opened at $519.92 on Friday. BlackRock has a 12-month low of $375.52 and a 12-month high of $594.52. The company has a market cap of $86,194.67, a PE ratio of 23.01, a P/E/G ratio of 1.54 and a beta of 1.67. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.94 by $0.30. BlackRock had a return on equity of 12.31% and a net margin of 39.79%. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the business posted $5.14 EPS. The business’s revenue was up 20.0% compared to the same quarter last year. equities analysts expect that BlackRock will post 28.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th were paid a dividend of $2.88 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is currently 50.97%.
A number of research firms have weighed in on BLK. Zacks Investment Research raised BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target for the company in a research report on Thursday, January 11th. JPMorgan Chase reaffirmed an “overweight” rating and set a $640.00 price target on shares of BlackRock in a research report on Wednesday, March 14th. Jefferies Group upped their price target on BlackRock to $565.00 and gave the stock a “hold” rating in a research report on Monday, January 15th. Citigroup upped their price target on BlackRock to $625.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Credit Suisse Group upped their price target on BlackRock from $672.00 to $678.00 and gave the stock an “outperform” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $566.31.
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BlackRock Company Profile
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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