SevenBridge Financial Group LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,996 shares of the asset manager’s stock after selling 123 shares during the quarter. BlackRock makes up 1.1% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 24th largest position. SevenBridge Financial Group LLC’s holdings in BlackRock were worth $2,053,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Invictus RG purchased a new position in shares of BlackRock in the third quarter valued at about $110,000. Sumitomo Mitsui Financial Group Inc. increased its position in shares of BlackRock by 1,119.2% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock valued at $141,000 after acquiring an additional 291 shares during the period. Assetmark Inc. increased its position in shares of BlackRock by 57.1% in the fourth quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 101 shares during the period. Oakworth Capital Inc. increased its position in shares of BlackRock by 67.6% in the fourth quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after acquiring an additional 123 shares during the period. Finally, Manchester Capital Management LLC purchased a new position in shares of BlackRock in the third quarter valued at about $156,000. Hedge funds and other institutional investors own 84.74% of the company’s stock.
A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $640.00 price objective on shares of BlackRock in a research report on Wednesday, March 14th. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Deutsche Bank reduced their price target on shares of BlackRock to $623.00 and set a “buy” rating on the stock in a research report on Tuesday, March 6th. Finally, Argus reiterated a “buy” rating and set a $620.00 price target (up previously from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $567.15.
BLK stock opened at $557.52 on Wednesday. The stock has a market cap of $89,010.45, a PE ratio of 18.40, a P/E/G ratio of 1.49 and a beta of 1.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.94 and a current ratio of 2.94. BlackRock, Inc. has a 52-week low of $368.00 and a 52-week 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 for the quarter, topping the Zacks’ 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 12.31%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.14 earnings per share. research analysts forecast that BlackRock, Inc. will post 28.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be issued a $2.88 dividend. This represents a $11.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is 38.02%.
In other BlackRock news, insider Jeff A. Smith sold 425 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total value of $240,533.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark Mccombe sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $520.64, for a total transaction of $1,041,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,961 shares of company stock worth $11,375,444. Corporate insiders own 1.86% of the company’s stock.
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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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