Berkshire Asset Management LLC PA increased its stake in BlackRock, Inc. (NYSE:BLK) by 33.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 899 shares of the asset manager’s stock after buying an additional 223 shares during the period. Berkshire Asset Management LLC PA’s holdings in BlackRock were worth $462,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Keel Point LLC lifted its holdings in shares of BlackRock by 0.6% during the 2nd quarter. Keel Point LLC now owns 802 shares of the asset manager’s stock valued at $339,000 after buying an additional 5 shares during the period. Bangor Savings Bank lifted its holdings in shares of BlackRock by 0.6% during the 2nd quarter. Bangor Savings Bank now owns 1,172 shares of the asset manager’s stock valued at $495,000 after buying an additional 7 shares during the period. Zevenbergen Capital Investments LLC lifted its holdings in shares of BlackRock by 0.4% during the 2nd quarter. Zevenbergen Capital Investments LLC now owns 2,294 shares of the asset manager’s stock valued at $969,000 after buying an additional 10 shares during the period. Veritable L.P. lifted its holdings in shares of BlackRock by 0.3% during the 2nd quarter. Veritable L.P. now owns 3,936 shares of the asset manager’s stock valued at $1,663,000 after buying an additional 11 shares during the period. Finally, KCM Investment Advisors LLC raised its holdings in BlackRock by 3.0% in the 2nd quarter. KCM Investment Advisors LLC now owns 683 shares of the asset manager’s stock worth $289,000 after purchasing an additional 20 shares during the period. Institutional investors own 83.27% of the company’s stock.
Shares of BlackRock, Inc. (BLK) traded up $12.13 during midday trading on Friday, reaching $521.51. 936,235 shares of the company’s stock traded hands, compared to its average volume of 690,388. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $83,610.00, a P/E ratio of 17.21, a P/E/G ratio of 1.43 and a beta of 1.75. BlackRock, Inc. has a twelve month low of $368.00 and a twelve month high of $594.52.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.14 earnings per share. research analysts predict that BlackRock, Inc. will post 28.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This represents a $11.52 annualized dividend and a yield of 2.21%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date is Tuesday, March 6th. BlackRock’s dividend payout ratio (DPR) is presently 33.00%.
In other BlackRock news, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the transaction, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction on Friday, November 17th. The stock was sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,775 shares of company stock worth $2,983,400. 1.86% of the stock is currently owned by corporate insiders.
A number of brokerages recently commented on BLK. Zacks Investment Research cut BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Argus reaffirmed a “buy” rating and issued a $620.00 target price (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Citigroup cut BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price on the stock. in a report on Thursday, January 25th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $555.00 target price (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 price target on shares of BlackRock in a research note on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $547.92.
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BlackRock Company Profile
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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