Raymond James & Associates trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,252 shares of the asset manager’s stock after selling 2,395 shares during the quarter. Raymond James & Associates owned approximately 0.08% of BlackRock worth $70,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Somerset Trust Co lifted its holdings in shares of BlackRock by 2.7% during the 4th quarter. Somerset Trust Co now owns 3,449 shares of the asset manager’s stock valued at $1,772,000 after buying an additional 90 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of 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 buying an additional 93 shares during the last quarter. Naples Global Advisors LLC lifted its holdings in shares of 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 buying an additional 93 shares during the last quarter. Lau Associates LLC lifted its holdings in shares of 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 buying an additional 96 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in BlackRock by 57.1% in the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after purchasing an additional 101 shares during the last quarter. Institutional investors and hedge funds own 84.74% of the company’s stock.
BlackRock, Inc. (BLK) traded up $1.44 on Tuesday, hitting $555.27. The stock had a trading volume of 240,162 shares, compared to its average volume of 645,819. The company has a market capitalization of $90,590.30, a PE ratio of 18.31, a PEG ratio of 1.52 and a beta of 1.71. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.93. BlackRock, Inc. has a 1-year low of $368.00 and a 1-year high of $594.52.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.31% and a net margin of 39.79%. BlackRock’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.14 earnings per share. analysts anticipate that BlackRock, Inc. will post 28.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.07%. BlackRock’s payout ratio is currently 38.02%.
BLK has been the subject of several analyst reports. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price for the company in a report on Thursday, January 11th. Citigroup boosted their target price on BlackRock to $625.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Jefferies Group boosted their target price on BlackRock to $565.00 and gave the stock a “hold” rating in a report on Monday, January 15th. Credit Suisse Group restated a “buy” rating and issued a $680.00 target price on shares of BlackRock in a report on Friday, January 12th. Finally, ValuEngine lowered BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $567.15.
In related news, COO Robert L. Goldstein sold 5,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $558.00, for a total value of $2,790,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ryan Stork sold 7,136 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $543.50, for a total value of $3,878,416.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,961 shares of company stock worth $11,375,444. 1.86% of the stock is currently owned by company insiders.
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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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