Verity Asset Management Inc. bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 649 shares of the asset manager’s stock, valued at approximately $342,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Buckley Wealth Management LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $338,000. Wealthstreet Investment Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $205,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of BlackRock by 2.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,490 shares of the asset manager’s stock valued at $5,902,000 after purchasing an additional 237 shares during the period. Gradient Investments LLC boosted its position in shares of BlackRock by 1.5% in the 4th quarter. Gradient Investments LLC now owns 16,796 shares of the asset manager’s stock valued at $8,628,000 after purchasing an additional 250 shares during the period. Finally, Edgemoor Investment Advisors Inc. boosted its position in shares of BlackRock by 0.8% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 20,324 shares of the asset manager’s stock valued at $11,443,000 after purchasing an additional 157 shares during the period. 83.15% of the stock is owned by institutional investors and hedge funds.
In other news, Director Deryck C. Maughan purchased 3,861 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was bought at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the purchase, the director now directly owns 12,265 shares of the company’s stock, valued at $7,033,241.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan Wagner sold 4,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the sale, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,775 shares of company stock valued at $2,983,400 over the last ninety days. Company insiders own 1.86% of the company’s stock.
Shares of BlackRock, Inc. (BLK) opened at $525.38 on Tuesday. BlackRock, Inc. has a 1 year low of $368.00 and a 1 year high of $594.52. The company has a market capitalization of $83,987.10, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.40 and a beta of 1.76. 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 (NYSE:BLK) last posted its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business earned $5.14 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. equities analysts predict that BlackRock, Inc. will post 28.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a dividend of $2.88 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This is an increase from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.19%. BlackRock’s dividend payout ratio (DPR) is 33.00%.
A number of equities analysts recently weighed in on the company. Citigroup lowered BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target for the company. in a research report on Thursday, January 25th. Argus reiterated a “buy” rating and issued a $620.00 price target (up previously from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Wells Fargo & Co reiterated a “market perform” rating and issued a $555.00 price target (up previously from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Jefferies Group increased their price target on BlackRock to $565.00 and gave the company a “hold” rating in a research report on Monday, January 15th. Finally, Credit Suisse Group restated a “buy” rating and set a $680.00 price objective on shares of BlackRock in a research report on Friday, January 12th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $547.92.
WARNING: “Verity Asset Management Inc. Buys Shares of 649 BlackRock, Inc. (BLK)” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The original version of this news story can be accessed at https://ledgergazette.com/2018/02/13/verity-asset-management-inc-buys-shares-of-649-blackrock-inc-blk.html.
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.
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.