Capital International Sarl boosted its stake in BlackRock, Inc. (NYSE:BLK) by 30.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,839 shares of the asset manager’s stock after purchasing an additional 1,139 shares during the quarter. Capital International Sarl’s holdings in BlackRock were worth $2,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. Firestone Capital Management purchased a new position in shares of BlackRock during the fourth quarter worth approximately $25,000. Hall Laurie J Trustee purchased a new position in shares of BlackRock during the fourth quarter worth approximately $25,000. Virtus ETF Advisers LLC purchased a new position in shares of BlackRock during the fourth quarter worth approximately $25,000. Carmichael Hill & Associates Inc. purchased a new position in shares of BlackRock during the fourth quarter worth approximately $27,000. Finally, CFM Wealth Partners LLC purchased a new position in shares of BlackRock during the fourth quarter worth approximately $33,000. 83.16% of the stock is currently owned by hedge funds and other institutional investors.
BLK has been the topic of several research reports. Citigroup decreased their price target on shares of BlackRock from $600.00 to $510.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Argus reissued a “buy” rating and set a $570.00 price target (up from $535.00) on shares of BlackRock in a research note on Wednesday, January 15th. Wells Fargo & Co decreased their price target on shares of BlackRock from $590.00 to $490.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. JPMorgan Chase & Co. cut their target price on shares of BlackRock from to in a report on Monday, March 16th. Finally, ValuEngine upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a report on Friday, March 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $505.08.
In other news, Director Mark Mccombe sold 1,336 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $534.05, for a total value of $713,490.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gary Shedlin sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $571.49, for a total transaction of $2,285,960.00. The disclosure for this sale can be found here. Insiders sold 110,381 shares of company stock worth $60,691,912 in the last 90 days. Company insiders own 1.42% of the company’s stock.
Shares of BlackRock stock traded up $39.62 on Thursday, hitting $441.01. The stock had a trading volume of 757,330 shares, compared to its average volume of 1,462,912. The company has a quick ratio of 2.48, a current ratio of 2.48 and a debt-to-equity ratio of 0.61. BlackRock, Inc. has a one year low of $323.98 and a one year high of $576.81. The stock has a market cap of $57.55 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.10 and a beta of 1.51. The stock’s 50-day simple moving average is $482.45 and its two-hundred day simple moving average is $480.76.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $8.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.69 by $0.65. BlackRock had a net margin of 30.79% and a return on equity of 13.86%. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter last year, the business earned $6.08 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 28.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Thursday, March 5th were issued a $3.63 dividend. This is a boost from BlackRock’s previous quarterly dividend of $3.30. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $14.52 annualized dividend and a dividend yield of 3.29%. BlackRock’s dividend payout ratio (DPR) is currently 50.98%.
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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