Pinkerton Retirement Specialists LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 6.5% in the fourth quarter, Holdings Channel reports. The fund owned 4,047 shares of the asset manager’s stock after buying an additional 248 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in BlackRock were worth $1,590,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. JGP Wealth Management LLC raised its stake in shares of BlackRock by 37.0% in the fourth quarter. JGP Wealth Management LLC now owns 8,887 shares of the asset manager’s stock valued at $3,491,000 after acquiring an additional 2,398 shares during the last quarter. Burns J W & Co. Inc. NY raised its stake in shares of BlackRock by 9.9% in the fourth quarter. Burns J W & Co. Inc. NY now owns 1,106 shares of the asset manager’s stock valued at $434,000 after acquiring an additional 100 shares during the last quarter. Cordatus Wealth Management LLC bought a new position in shares of BlackRock in the fourth quarter valued at approximately $364,000. Heritage Way Advisors LLC raised its stake in shares of BlackRock by 8.0% in the fourth quarter. Heritage Way Advisors LLC now owns 5,757 shares of the asset manager’s stock valued at $2,261,000 after acquiring an additional 426 shares during the last quarter. Finally, CWM LLC raised its stake in shares of BlackRock by 19,711.5% in the fourth quarter. CWM LLC now owns 46,359 shares of the asset manager’s stock valued at $18,211,000 after acquiring an additional 46,125 shares during the last quarter. Institutional investors own 83.61% of the company’s stock.
In other news, CEO Laurence Fink sold 25,102 shares of the business’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $418.89, for a total value of $10,514,976.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gary Shedlin sold 5,400 shares of the business’s stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $410.74, for a total transaction of $2,217,996.00. The disclosure for this sale can be found here. Insiders sold a total of 138,650 shares of company stock valued at $57,774,089 in the last three months. 1.75% of the stock is owned by company insiders.
A number of research analysts have recently issued reports on the stock. Deutsche Bank lifted their target price on shares of BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a research note on Friday, March 15th. Barclays boosted their price objective on shares of BlackRock from $472.00 to $490.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Bank of America restated a “buy” rating and issued a $498.00 price objective (up previously from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley set a $515.00 price objective on shares of BlackRock and gave the stock a “buy” rating in a research report on Friday, February 8th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $498.49.
BLK traded up $0.62 during trading on Monday, reaching $417.98. 6,740 shares of the company’s stock were exchanged, compared to its average volume of 623,368. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.11. BlackRock, Inc. has a fifty-two week low of $360.79 and a fifty-two week high of $557.00. The firm has a market capitalization of $65.96 billion, a PE ratio of 15.52, a P/E/G ratio of 1.68 and a beta of 1.41.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing analysts’ consensus estimates of $6.35 by ($0.27). BlackRock had a return on equity of 13.51% and a net margin of 30.32%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the firm posted $6.24 EPS. BlackRock’s revenue was down 8.8% on a year-over-year basis. Equities analysts forecast that BlackRock, Inc. will post 26.28 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $3.30 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date was Tuesday, March 5th. This represents a $13.20 annualized dividend and a dividend yield of 3.16%. BlackRock’s payout ratio is 49.02%.
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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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