Commerzbank Aktiengesellschaft FI lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 257.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,988 shares of the asset manager’s stock after purchasing an additional 7,190 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in BlackRock were worth $4,466,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Aperio Group LLC increased its stake in shares of BlackRock by 8.6% during the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock worth $30,732,000 after purchasing an additional 5,451 shares during the last quarter. Everett Harris & Co. CA increased its stake in shares of BlackRock by 9.2% during the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after purchasing an additional 8,478 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of BlackRock by 48.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after purchasing an additional 33,400 shares during the last quarter. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of BlackRock during the 3rd quarter worth approximately $222,000. Finally, Blue Chip Partners Inc. grew its stake in BlackRock by 8.5% in the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock valued at $5,677,000 after buying an additional 1,055 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.
In other news, 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 transaction, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff A. Smith sold 100 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,875 shares of company stock valued at $4,125,566 over the last 90 days. Company insiders own 1.86% of the company’s stock.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.14 EPS. sell-side analysts anticipate that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be given a dividend of $2.50 per share. The ex-dividend date is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.99%. BlackRock’s dividend payout ratio (DPR) is currently 46.82%.
A number of research analysts recently weighed in on the stock. Jefferies Group reiterated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Tuesday, September 26th. Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 price objective (up from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective for the company in a research note on Tuesday, October 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 price objective on shares of BlackRock in a research note on Thursday, October 12th. Finally, BidaskClub lowered shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $489.08.
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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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