Cornerstone Capital Management Holdings LLC. Raises Position in BlackRock, Inc. (BLK)

Cornerstone Capital Management Holdings LLC. lifted its stake in BlackRock, Inc. (NYSE:BLK) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,882 shares of the asset manager’s stock after purchasing an additional 277 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in BlackRock were worth $11,123,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Davis R M Inc. boosted its position in shares of BlackRock by 0.4% during the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after purchasing an additional 2 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of BlackRock by 1.2% during the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after purchasing an additional 3 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its position in shares of BlackRock by 0.4% during the second quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock worth $291,000 after purchasing an additional 3 shares in the last quarter. Wayne Hummer Investments L.L.C. boosted its position in shares of BlackRock by 0.3% during the second quarter. Wayne Hummer Investments L.L.C. now owns 1,059 shares of the asset manager’s stock worth $447,000 after purchasing an additional 3 shares in the last quarter. Finally, Keel Point LLC boosted its position in shares of BlackRock by 0.6% during the second quarter. Keel Point LLC now owns 802 shares of the asset manager’s stock worth $339,000 after purchasing an additional 5 shares in the last quarter. 83.74% of the stock is owned by institutional investors and hedge funds.

In related news, insider Jeff A. Smith sold 100 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Mccombe sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $478.99, for a total transaction of $478,990.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,200 shares of company stock worth $2,599,302 over the last 90 days. 1.86% of the stock is owned by company insiders.

A number of brokerages have recently weighed in on BLK. Jefferies Group reissued a “hold” rating and set a $440.00 price target on shares of BlackRock in a research report on Friday, August 18th. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $500.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Finally, Barclays assumed coverage on shares of BlackRock in a research report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. BlackRock presently has a consensus rating of “Buy” and a consensus price target of $489.08.

Shares of BlackRock, Inc. (NYSE BLK) traded up $1.82 during trading hours on Tuesday, reaching $513.95. 30,953 shares of the company’s stock traded hands, compared to its average volume of 526,549. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09. BlackRock, Inc. has a 52-week low of $365.83 and a 52-week high of $517.30. The company has a market cap of $82,649.54, a PE ratio of 23.92, a PEG ratio of 1.79 and a beta of 1.81.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.14 EPS. research analysts expect that BlackRock, Inc. will post 22.34 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be paid a dividend of $2.50 per share. The ex-dividend date is Friday, December 1st. This represents a $10.00 annualized dividend and a dividend yield of 1.95%. BlackRock’s dividend payout ratio is presently 46.82%.

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BlackRock Company Profile

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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