Atria Investments LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 36.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,368 shares of the asset manager’s stock after selling 2,545 shares during the period. Atria Investments LLC’s holdings in BlackRock were worth $2,059,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clarus Wealth Advisors purchased a new position in BlackRock in the 2nd quarter worth approximately $133,000. AlphaMark Advisors LLC purchased a new position in BlackRock in the 2nd quarter worth approximately $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in BlackRock in the 2nd quarter worth approximately $150,000. Kaizen Advisory LLC grew its position in BlackRock by 156.7% in the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock worth $154,000 after purchasing an additional 188 shares during the period. Finally, Moneta Group Investment Advisors LLC bought a new stake in BlackRock in the 2nd quarter worth approximately $202,000. Institutional investors own 82.80% of the company’s stock.
In other BlackRock news, Director William E. Ford acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, July 18th. The stock was purchased at an average price of $507.98 per share, with a total value of $507,980.00. Following the transaction, the director now directly owns 4,400 shares in the company, valued at approximately $2,235,112. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Laurence Fink sold 19,800 shares of the business’s stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $507.67, for a total transaction of $10,051,866.00. Following the sale, the chairman now directly owns 1,098,328 shares of the company’s stock, valued at approximately $557,588,175.76. The disclosure for this sale can be found here. Insiders own 1.75% of the company’s stock.
Shares of BLK stock opened at $427.70 on Friday. BlackRock, Inc. has a 1 year low of $415.35 and a 1 year high of $594.52. The company has a quick ratio of 3.87, a current ratio of 3.87 and a debt-to-equity ratio of 0.88. The firm has a market cap of $75.22 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.46 and a beta of 1.55.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.55 by $0.11. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the previous year, the firm posted $5.24 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock, Inc. will post 27.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Stockholders of record on Friday, September 7th were given a dividend of $3.13 per share. This is an increase from BlackRock’s previous quarterly dividend of $2.88. The ex-dividend date was Thursday, September 6th. This represents a $12.52 dividend on an annualized basis and a dividend yield of 2.93%. BlackRock’s payout ratio is presently 55.40%.
BLK has been the subject of a number of research analyst reports. ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Citigroup raised shares of BlackRock from a “neutral” rating to a “buy” rating in a research report on Monday, June 18th. JPMorgan Chase & Co. reaffirmed a “focus list” rating and issued a $547.00 target price on shares of BlackRock in a research report on Monday, July 2nd. Morgan Stanley cut their target price on shares of BlackRock from $624.00 to $607.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Finally, Keefe, Bruyette & Woods raised shares of BlackRock from a “market perform” rating to an “outperform” rating and set a $590.00 target price for the company in a research report on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $590.62.
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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