Todd Asset Management LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 98.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 671 shares of the asset manager’s stock after selling 55,069 shares during the period. Todd Asset Management LLC’s holdings in BlackRock were worth $316,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Bristlecone Advisors LLC boosted its holdings in BlackRock by 51.3% in the third quarter. Bristlecone Advisors LLC now owns 6,667 shares of the asset manager’s stock valued at $3,142,000 after purchasing an additional 2,260 shares during the period. New Potomac Partners LLC lifted its holdings in BlackRock by 4.4% during the 3rd quarter. New Potomac Partners LLC now owns 5,332 shares of the asset manager’s stock worth $2,513,000 after buying an additional 225 shares during the last quarter. Soros Fund Management LLC lifted its holdings in BlackRock by 59.8% during the 2nd quarter. Soros Fund Management LLC now owns 12,983 shares of the asset manager’s stock worth $6,479,000 after buying an additional 4,858 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in BlackRock by 2.8% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,293 shares of the asset manager’s stock worth $3,639,000 after buying an additional 200 shares during the last quarter. Finally, MUFG Americas Holdings Corp lifted its holdings in BlackRock by 1.5% during the 2nd quarter. MUFG Americas Holdings Corp now owns 16,441 shares of the asset manager’s stock worth $8,205,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.
BLK opened at $402.92 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.07 and a current ratio of 3.07. BlackRock, Inc. has a one year low of $376.31 and a one year high of $594.52. The stock has a market cap of $64.31 billion, a PE ratio of 17.83, a PEG ratio of 1.22 and a beta of 1.54.
BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, topping the Zacks’ consensus estimate of $6.93 by $0.59. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the firm earned $5.76 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts anticipate that BlackRock, Inc. will post 27.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be given a dividend of $3.13 per share. This represents a $12.52 dividend on an annualized basis and a dividend yield of 3.11%. BlackRock’s dividend payout ratio (DPR) is currently 1.28%.
In other news, Director William E. Ford bought 2,000 shares of the business’s stock in a transaction dated Monday, October 22nd. The shares were acquired at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the transaction, the director now owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.75% of the stock is currently owned by insiders.
BLK has been the subject of a number of recent analyst reports. Goldman Sachs Group downgraded BlackRock from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, October 17th. Deutsche Bank decreased their price target on BlackRock from $570.00 to $561.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Morgan Stanley decreased their price target on BlackRock from $607.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, October 9th. UBS Group decreased their price target on BlackRock from $575.00 to $565.00 and set a “buy” rating for the company in a report on Monday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on BlackRock from $541.00 to $592.00 and gave the stock a “buy” rating in a report on Monday, October 8th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $554.31.
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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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