UBS Asset Management Americas Inc. trimmed its position in BlackRock, Inc. (NYSE:BLK) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 384,793 shares of the asset manager’s stock after selling 31,700 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in BlackRock were worth $197,672,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Somerset Trust Co increased its holdings in shares of BlackRock by 2.7% in the 4th quarter. Somerset Trust Co now owns 3,449 shares of the asset manager’s stock valued at $1,772,000 after acquiring an additional 90 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in BlackRock by 10.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 960 shares of the asset manager’s stock valued at $493,000 after purchasing an additional 93 shares during the period. Naples Global Advisors LLC boosted its position in BlackRock by 1.7% during the 4th quarter. Naples Global Advisors LLC now owns 5,495 shares of the asset manager’s stock valued at $2,823,000 after purchasing an additional 93 shares during the period. Lau Associates LLC boosted its position in BlackRock by 10.3% during the 4th quarter. Lau Associates LLC now owns 1,026 shares of the asset manager’s stock valued at $527,000 after purchasing an additional 96 shares during the period. Finally, Advisory Services Network LLC boosted its position in BlackRock by 2.0% during the 4th quarter. Advisory Services Network LLC now owns 5,259 shares of the asset manager’s stock valued at $2,702,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 83.15% of the company’s stock.
BlackRock, Inc. (NYSE BLK) opened at $541.10 on Friday. 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 $368.00 and a 12-month high of $594.52. The stock has a market capitalization of $87,141.99, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.45 and a beta of 1.76.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) 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 analyst estimates of $3.33 billion. During the same quarter in the previous year, the firm posted $5.14 EPS. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. sell-side analysts expect that BlackRock, Inc. will post 28.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is 33.00%.
BLK has been the subject of a number of analyst reports. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a research report on Thursday, January 11th. Citigroup boosted their price objective on BlackRock to $625.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Jefferies Group boosted their price objective on BlackRock to $565.00 and gave the company a “hold” rating in a research report on Monday, January 15th. 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. Finally, Wells Fargo & Co restated a “market perform” rating and set a $555.00 price objective (up previously from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. BlackRock has a consensus rating of “Buy” and an average target price of $547.92.
In other BlackRock news, insider Mark Mccombe sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $520.64, for a total transaction of $1,041,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. Insiders have sold a total of 10,175 shares of company stock valued at $5,294,251 in the last quarter. 1.86% of the stock is currently owned by insiders.
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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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