FIL Ltd lessened its stake in BlackRock, Inc. (NYSE:BLK) by 18.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,612 shares of the asset manager’s stock after selling 58,319 shares during the quarter. FIL Ltd’s holdings in BlackRock were worth $125,191,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of BLK. Cornerstone Wealth Management LLC acquired a new position in shares of BlackRock during the second quarter worth $377,000. Sumitomo Life Insurance Co. lifted its position in shares of BlackRock by 4.2% during the second quarter. Sumitomo Life Insurance Co. now owns 3,552 shares of the asset manager’s stock worth $1,773,000 after purchasing an additional 143 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of BlackRock by 6,346.5% during the second quarter. Bessemer Group Inc. now owns 183,724 shares of the asset manager’s stock worth $91,685,000 after purchasing an additional 180,874 shares in the last quarter. D.B. Root & Company LLC lifted its position in shares of BlackRock by 33.7% during the second quarter. D.B. Root & Company LLC now owns 1,608 shares of the asset manager’s stock worth $802,000 after purchasing an additional 405 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its position in shares of BlackRock by 509.3% during the second quarter. Tributary Capital Management LLC now owns 6,976 shares of the asset manager’s stock worth $3,481,000 after purchasing an additional 5,831 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.
A number of research firms have recently commented on BLK. Zacks Investment Research cut shares of BlackRock from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Deutsche Bank boosted their target price on shares of BlackRock from $549.00 to $559.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. JPMorgan Chase & Co. raised shares of BlackRock to an “overweight” rating in a research report on Tuesday, October 9th. Morgan Stanley reduced their target price on shares of BlackRock from $607.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, October 9th. Finally, UBS Group reduced their target price on shares of BlackRock from $575.00 to $565.00 and set a “buy” rating on the stock in a research report on Monday, October 8th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. BlackRock currently has an average rating of “Buy” and an average price target of $554.31.
BLK opened at $407.62 on Friday. The firm has a market capitalization of $64.29 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.22 and a beta of 1.54. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.07 and a current ratio of 3.07. BlackRock, Inc. has a 12-month low of $376.31 and a 12-month high of $594.52.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.93 by $0.59. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.76 earnings per share. As a group, equities research analysts anticipate that BlackRock, Inc. will post 27.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 7th will be issued a $3.13 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $12.52 annualized dividend and a yield of 3.07%. BlackRock’s dividend payout ratio is presently 55.40%.
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BlackRock Company Profile
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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