Global X Management Co. LLC boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 105.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,865 shares of the asset manager’s stock after acquiring an additional 958 shares during the period. Global X Management Co. LLC’s holdings in BlackRock were worth $958,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Invictus RG acquired a new stake in BlackRock during the 3rd quarter worth $110,000. Sumitomo Mitsui Financial Group Inc. grew its holdings in BlackRock by 1,119.2% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after acquiring an additional 291 shares during the period. Oakworth Capital Inc. grew its holdings in shares of BlackRock by 67.6% in the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after buying an additional 123 shares during the period. Manchester Capital Management LLC acquired a new position in shares of BlackRock in the 3rd quarter valued at $156,000. Finally, Penserra Capital Management LLC grew its holdings in shares of BlackRock by 48.8% in the 3rd quarter. Penserra Capital Management LLC now owns 369 shares of the asset manager’s stock valued at $164,000 after buying an additional 121 shares during the period. 82.37% of the stock is owned by hedge funds and other institutional investors.
BLK has been the subject of several research analyst reports. Citigroup lowered shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target for the company. in a report on Thursday, January 25th. Argus reissued a “buy” rating and issued a $620.00 price target (up previously from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Credit Suisse Group reissued a “buy” rating and issued a $680.00 price target on shares of BlackRock in a report on Friday, January 12th. Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $555.00 price target (up previously from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Five 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $547.92.
In related news, insider Mark Mccombe sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $520.64, for a total value of $1,041,280.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the sale, the director now directly owns 481,915 shares in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders sold a total of 10,175 shares of company stock worth $5,294,251 over the last ninety days. 1.86% of the stock is currently owned by insiders.
Shares of BlackRock, Inc. (NYSE BLK) opened at $541.10 on Tuesday. The company has a market cap of $87,141.99, a price-to-earnings ratio of 23.89, a P/E/G ratio of 1.45 and a beta of 1.76. BlackRock, Inc. has a 52-week low of $368.00 and a 52-week high of $594.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.14 EPS. equities analysts predict that BlackRock, Inc. will post 28.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be given a $2.88 dividend. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s payout ratio is currently 33.00%.
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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