Avestar Capital LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 668 shares of the asset manager’s stock, valued at approximately $332,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Invictus RG acquired a new stake in shares of BlackRock during the 3rd quarter worth about $110,000. Sumitomo Mitsui Financial Group Inc. lifted its stake in shares of BlackRock by 1,119.2% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after buying an additional 291 shares during the last quarter. Assetmark Inc. lifted its stake in shares of BlackRock by 57.1% during the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after buying an additional 101 shares during the last quarter. Oakworth Capital Inc. lifted its stake in shares of BlackRock by 67.6% during the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after buying an additional 123 shares during the last quarter. Finally, Manchester Capital Management LLC acquired a new stake in BlackRock in the 3rd quarter worth about $156,000. 82.90% of the stock is owned by institutional investors.
Several brokerages have weighed in on BLK. Citigroup cut shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price objective for the company. in a research note on Thursday, January 25th. Wells Fargo & Co reiterated a “market perform” rating and issued a $555.00 price objective (up previously from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Argus reiterated a “buy” rating and issued a $620.00 price objective (up previously from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Jefferies Group lifted their price objective on shares of BlackRock to $565.00 and gave the stock a “hold” rating in a research note on Monday, January 15th. Finally, ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $560.85.
BlackRock (NYSE:BLK) last issued its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the consensus estimate of $5.94 by $0.30. The company had revenue of $3.47 billion during 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 for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.14 EPS. sell-side analysts predict that BlackRock, Inc. will post 28.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. The ex-dividend date is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a dividend yield of 2.00%. BlackRock’s payout ratio is 49.91%.
In related news, Director Deryck C. Maughan purchased 3,861 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were bought at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the acquisition, the director now owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J. Richard Kushel sold 2,000 shares of BlackRock stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $541.61, for a total transaction of $1,083,220.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,961 shares of company stock worth $11,375,444 over the last ninety days. 1.86% of the stock is currently owned by insiders.
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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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