Clear Perspective Advisors LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 14.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,582 shares of the asset manager’s stock after acquiring an additional 199 shares during the period. Clear Perspective Advisors LLC’s holdings in BlackRock were worth $746,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BLK. Freestone Capital Holdings LLC raised its stake in shares of BlackRock by 124.0% in the 3rd quarter. Freestone Capital Holdings LLC now owns 907 shares of the asset manager’s stock worth $427,000 after buying an additional 502 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of BlackRock by 2.1% in the 3rd quarter. Pinnacle Associates Ltd. now owns 16,035 shares of the asset manager’s stock worth $7,558,000 after buying an additional 332 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of BlackRock by 51.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 190,014 shares of the asset manager’s stock worth $89,559,000 after buying an additional 64,788 shares in the last quarter. Baldwin Investment Management LLC raised its stake in shares of BlackRock by 139.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 3,855 shares of the asset manager’s stock worth $1,817,000 after buying an additional 2,245 shares in the last quarter. Finally, Crawford Investment Counsel Inc. raised its stake in shares of BlackRock by 4.8% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 123,157 shares of the asset manager’s stock worth $58,047,000 after buying an additional 5,595 shares in the last quarter. 80.42% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on BLK shares. Morgan Stanley dropped their price objective on BlackRock from $554.00 to $514.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 14th. Citigroup dropped their price objective on BlackRock to $500.00 and set a “buy” rating on the stock in a research note on Wednesday, October 17th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research note on Friday, August 31st. Goldman Sachs Group downgraded BlackRock from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, October 17th. Finally, Wells Fargo & Co dropped their price objective on BlackRock from $545.00 to $510.00 and set a “market perform” rating on the stock in a research note on Thursday, October 11th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $554.31.
BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.93 by $0.59. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. BlackRock had a return on equity of 13.72% and a net margin of 39.92%. BlackRock’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.76 earnings per share. Equities research analysts predict that BlackRock, Inc. will post 27.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be given a dividend of $3.13 per share. This represents a $12.52 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, December 6th. BlackRock’s dividend payout ratio (DPR) is presently 55.40%.
In related news, Director William E. Ford bought 2,000 shares of the business’s stock in a transaction dated Wednesday, October 17th. The shares were bought at an average cost of $409.59 per share, with a total value of $819,180.00. Following the completion of the transaction, the director now directly owns 7,466 shares of the company’s stock, valued at $3,057,998.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.86% of the stock is owned by insiders.
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.
Further Reading: What is a closed-end mutual fund (CEF)?
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