Dubuque Bank & Trust Co. reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,004 shares of the asset manager’s stock after selling 1,757 shares during the quarter. BlackRock comprises 1.5% of Dubuque Bank & Trust Co.’s portfolio, making the stock its 16th largest holding. Dubuque Bank & Trust Co.’s holdings in BlackRock were worth $10,056,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Atlas Brown Inc. lifted its stake in BlackRock by 3.6% during the fourth quarter. Atlas Brown Inc. now owns 607 shares of the asset manager’s stock valued at $305,000 after purchasing an additional 21 shares during the last quarter. Windsor Group LTD increased its holdings in shares of BlackRock by 1.5% in the fourth quarter. Windsor Group LTD now owns 1,477 shares of the asset manager’s stock valued at $742,000 after buying an additional 22 shares in the last quarter. Financial Advisory Service Inc. increased its holdings in shares of BlackRock by 3.7% in the third quarter. Financial Advisory Service Inc. now owns 644 shares of the asset manager’s stock valued at $287,000 after buying an additional 23 shares in the last quarter. Full Sail Capital LLC increased its holdings in shares of BlackRock by 2.4% in the third quarter. Full Sail Capital LLC now owns 999 shares of the asset manager’s stock valued at $485,000 after buying an additional 23 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in shares of BlackRock by 4.7% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 530 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 24 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on BLK shares. Barclays reissued a “buy” rating and set a $485.00 price objective on shares of BlackRock in a research note on Wednesday, October 9th. Wells Fargo & Co raised BlackRock from an “equal weight” rating to an “overweight” rating and set a $575.00 target price on the stock in a research report on Thursday, January 2nd. BMO Capital Markets started coverage on BlackRock in a research report on Monday, October 7th. They set a “market perform” rating and a $547.00 target price on the stock. Citigroup upped their target price on BlackRock from $565.00 to $580.00 and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley increased their price target on BlackRock from $547.00 to $554.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $526.28.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 15th. The asset manager reported $7.15 earnings per share for the quarter, topping the consensus estimate of $6.95 by $0.20. BlackRock had a net margin of 29.31% and a return on equity of 12.95%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the company posted $7.52 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts predict that BlackRock, Inc. will post 27.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were issued a $3.30 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.55%. BlackRock’s payout ratio is currently 49.02%.
In other news, CFO Gary Shedlin sold 3,995 shares of BlackRock stock in a transaction on Monday, November 11th. The stock was sold at an average price of $490.96, for a total transaction of $1,961,385.20. Also, CEO Laurence Fink sold 100 shares of BlackRock stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $457.02, for a total value of $45,702.00. The disclosure for this sale can be found here. Insiders sold 6,095 shares of company stock valued at $2,900,567 in the last 90 days. Corporate insiders own 1.42% of the company’s stock.
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.
See Also: What is the Euro STOXX 50 Index?
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.