Amundi Pioneer Asset Management Inc. decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 220,272 shares of the asset manager’s stock after selling 14,587 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.14% of BlackRock worth $86,528,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors raised its stake in BlackRock by 1.8% during the 3rd quarter. Capital World Investors now owns 8,353,670 shares of the asset manager’s stock worth $3,937,335,000 after acquiring an additional 148,805 shares during the period. Northern Trust Corp raised its stake in BlackRock by 0.9% during the 4th quarter. Northern Trust Corp now owns 1,666,574 shares of the asset manager’s stock worth $654,663,000 after acquiring an additional 14,587 shares during the period. Geode Capital Management LLC raised its stake in BlackRock by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock worth $566,150,000 after acquiring an additional 60,941 shares during the period. Rehmann Capital Advisory Group raised its stake in BlackRock by 51,763.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock worth $2,300,000 after acquiring an additional 1,082,370 shares during the period. Finally, Capital International Investors purchased a new stake in BlackRock during the 3rd quarter valued at approximately $477,939,000. Institutional investors own 81.79% of the company’s stock.
In related news, COO Robert L. Goldstein sold 5,133 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $443.00, for a total value of $2,273,919.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Laurence Fink sold 44,000 shares of the firm’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $412.75, for a total transaction of $18,161,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,650 shares of company stock valued at $57,774,089. 1.75% of the stock is currently owned by insiders.
BLK stock opened at $430.36 on Friday. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $558.17. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $67.94 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41.
BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 16th. The asset manager reported $6.08 earnings per share for the quarter, missing analysts’ consensus estimates of $6.35 by ($0.27). BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the business posted $6.24 earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts predict that BlackRock, Inc. will post 26.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $3.30 dividend. The ex-dividend date was Tuesday, March 5th. This is a positive change from BlackRock’s previous quarterly dividend of $3.13. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.07%. BlackRock’s dividend payout ratio (DPR) is 49.02%.
A number of equities research analysts have issued reports on BLK shares. Zacks Investment Research lowered shares of BlackRock from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Deutsche Bank lowered shares of BlackRock from a “buy” rating to a “hold” rating and cut their price objective for the company from $444.00 to $405.00 in a report on Thursday, January 10th. Bank of America reaffirmed a “buy” rating and set a $498.00 price objective (up from $490.00) on shares of BlackRock in a report on Friday, March 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $427.00 price objective on shares of BlackRock in a report on Wednesday, January 9th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $425.00 price objective (up from $410.00) on shares of BlackRock in a report on Wednesday, January 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. BlackRock currently has an average rating of “Buy” and a consensus price target of $498.49.
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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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