Blue Granite Capital LLC trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 29.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,150 shares of the asset manager’s stock after selling 1,740 shares during the quarter. BlackRock comprises approximately 1.3% of Blue Granite Capital LLC’s portfolio, making the stock its 27th biggest position. Blue Granite Capital LLC’s holdings in BlackRock were worth $1,855,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. increased its holdings in BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after buying an additional 30 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of BlackRock by 48.9% during the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 85 shares during the period. Enterprise Financial Services Corp grew its stake in shares of BlackRock by 52.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 85 shares during the period. Penserra Capital Management LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at about $104,000. Finally, Harfst & Associates Inc. grew its stake in shares of BlackRock by 17.3% during the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 39 shares during the period. Institutional investors own 82.13% of the company’s stock.
In related news, insider Mark Mccombe sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeff A. Smith sold 100 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,875 shares of company stock worth $2,101,166. 1.86% of the stock is owned by insiders.
A number of research firms have issued reports on BLK. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Thursday, October 12th. Jefferies Group LLC restated a “hold” rating and set a $465.00 price target on shares of BlackRock in a research note on Thursday, October 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price target on shares of BlackRock in a research note on Thursday, October 12th. J P Morgan Chase & Co boosted their price target on BlackRock to $558.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $475.00 price target (up from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. BlackRock presently has an average rating of “Buy” and a consensus price target of $489.08.
BlackRock, Inc. (BLK) opened at $481.36 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock, Inc. has a 12-month low of $365.83 and a 12-month high of $489.79. The firm has a market capitalization of $77,180.00, a PE ratio of 22.00, a PEG ratio of 1.64 and a beta of 1.79.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the firm earned $5.14 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. sell-side analysts predict that BlackRock, Inc. will post 22.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be issued a $2.50 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a yield of 2.08%. BlackRock’s dividend payout ratio is presently 46.82%.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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