Capital Investment Advisors LLC lessened its stake in BlackRock, Inc. (NYSE:BLK – Get Rating) by 3.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,760 shares of the asset manager’s stock after selling 96 shares during the quarter. Capital Investment Advisors LLC’s holdings in BlackRock were worth $2,109,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its stake in BlackRock by 3.0% in the 4th quarter. State Street Corp now owns 6,539,029 shares of the asset manager’s stock worth $5,986,873,000 after buying an additional 192,641 shares in the last quarter. Capital International Investors grew its stake in BlackRock by 2.2% in the 4th quarter. Capital International Investors now owns 3,288,052 shares of the asset manager’s stock worth $3,010,396,000 after buying an additional 71,631 shares in the last quarter. Column Capital Advisors LLC grew its stake in BlackRock by 28,992.4% in the 4th quarter. Column Capital Advisors LLC now owns 2,847,273 shares of the asset manager’s stock worth $2,847,000 after buying an additional 2,837,486 shares in the last quarter. Geode Capital Management LLC grew its stake in BlackRock by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 2,300,304 shares of the asset manager’s stock worth $2,099,650,000 after buying an additional 66,107 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in BlackRock by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,016,362 shares of the asset manager’s stock worth $1,846,102,000 after buying an additional 68,493 shares in the last quarter. 93.81% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE BLK opened at $647.78 on Friday. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.39. BlackRock, Inc. has a 12 month low of $575.60 and a 12 month high of $973.16. The firm has a market capitalization of $98.14 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 2.00 and a beta of 1.27. The firm has a fifty day simple moving average of $634.62 and a two-hundred day simple moving average of $743.51.
BlackRock (NYSE:BLK – Get Rating) last issued its quarterly earnings data on Wednesday, April 13th. The asset manager reported $9.52 EPS for the quarter, topping the consensus estimate of $8.92 by $0.60. BlackRock had a net margin of 31.20% and a return on equity of 17.00%. The business had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the business earned $7.77 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that BlackRock, Inc. will post 38.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 23rd. Shareholders of record on Monday, June 6th were issued a $4.88 dividend. The ex-dividend date was Friday, June 3rd. This represents a $19.52 annualized dividend and a yield of 3.01%. BlackRock’s dividend payout ratio (DPR) is presently 49.06%.
A number of equities research analysts have recently issued reports on BLK shares. Jefferies Financial Group started coverage on shares of BlackRock in a research note on Wednesday, April 13th. They issued a “buy” rating and a $873.00 price objective for the company. The Goldman Sachs Group cut their price objective on shares of BlackRock from $1,000.00 to $800.00 and set a “buy” rating for the company in a research note on Monday, March 14th. Morgan Stanley cut their price objective on shares of BlackRock from $966.00 to $932.00 and set an “overweight” rating for the company in a research note on Thursday, April 14th. Exane BNP Paribas cut shares of BlackRock from an “outperform” rating to a “neutral” rating and set a $725.00 price objective for the company. in a research note on Tuesday, March 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of BlackRock from $905.00 to $747.00 in a research note on Thursday, May 19th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $873.86.
In other BlackRock news, Director William E. Ford purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The stock was bought at an average cost of $681.44 per share, for a total transaction of $1,362,880.00. Following the purchase, the director now directly owns 14,915 shares in the company, valued at $10,163,677.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William E. Ford purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The stock was acquired at an average price of $701.00 per share, with a total value of $701,000.00. Following the completion of the purchase, the director now owns 12,915 shares in the company, valued at $9,053,415. The disclosure for this purchase can be found here. 1.06% of the stock is currently owned by corporate insiders.
BlackRock Profile (Get Rating)
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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