Sciencast Management LP acquired a new stake in shares of BlackRock (NYSE:BLK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 818 shares of the asset manager’s stock, valued at approximately $482,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Invictus RG purchased a new position in shares of BlackRock in the third quarter worth approximately $110,000. Sumitomo Mitsui Financial Group Inc. lifted its holdings in BlackRock by 1,119.2% during 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. Assetmark Inc. lifted its holdings in BlackRock by 57.1% during the fourth quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after purchasing an additional 101 shares in the last quarter. Oakworth Capital Inc. lifted its holdings in BlackRock by 67.6% during 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. Finally, Manchester Capital Management LLC purchased a new position in BlackRock during the third quarter valued at approximately $156,000. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
In other BlackRock news, insider Jeff A. Smith sold 425 shares of the company’s stock in a transaction that occurred 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 document filed with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $558.00, for a total value of $2,790,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,961 shares of company stock worth $11,375,444. 1.86% of the stock is owned by corporate insiders.
Several research firms have recently issued reports on BLK. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target on the stock in a research report on Thursday, January 11th. JPMorgan Chase reaffirmed an “overweight” rating and set a $640.00 price objective on shares of BlackRock in a research note on Wednesday, March 14th. Jefferies Group lifted their price objective on shares of BlackRock to $565.00 and gave the stock a “hold” rating in a research note on Monday, January 15th. Citigroup lifted their price objective on shares of BlackRock to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Credit Suisse Group boosted their target price on shares of BlackRock from $672.00 to $678.00 and gave the company an “outperform” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $566.31.
Shares of BlackRock stock opened at $519.92 on Friday. The stock has a market capitalization of $86,530.58, a price-to-earnings ratio of 23.01, a PEG ratio of 1.55 and a beta of 1.67. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 0.93. BlackRock has a one year low of $375.52 and a one year high of $594.52.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the company posted $5.14 earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. sell-side analysts anticipate that BlackRock will post 28.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th were issued a $2.88 dividend. This represents a $11.52 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Tuesday, March 6th. This is an increase from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is 50.97%.
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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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