Ashburton Jersey Ltd lifted its position in BlackRock, Inc. (NYSE:BLK) by 36.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 794 shares of the asset manager’s stock after acquiring an additional 211 shares during the quarter. Ashburton Jersey Ltd’s holdings in BlackRock were worth $408,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Invictus RG bought a new stake in shares of BlackRock in the third quarter valued at about $110,000. Sumitomo Mitsui Financial Group Inc. raised its holdings in shares of BlackRock by 1,119.2% in the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock valued at $141,000 after acquiring an additional 291 shares in the last quarter. Assetmark Inc. raised its holdings in shares of BlackRock by 57.1% in the fourth quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 101 shares in the last quarter. Oakworth Capital Inc. raised its holdings in shares of BlackRock by 67.6% in the fourth quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after acquiring an additional 123 shares in the last quarter. Finally, Manchester Capital Management LLC bought a new position in BlackRock in the third quarter worth about $156,000. Hedge funds and other institutional investors own 84.74% of the company’s stock.
In other BlackRock news, Director Deryck C. Maughan purchased 3,861 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were acquired at an average price of $573.44 per share, for a total transaction of $2,214,051.84. Following the completion of the purchase, the director now owns 12,265 shares of the company’s stock, valued at $7,033,241.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ryan Stork sold 7,136 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $543.50, for a total value of $3,878,416.00. The disclosure for this sale can be found here. Insiders have sold 20,961 shares of company stock worth $11,375,444 in the last 90 days. Insiders own 1.86% of the company’s stock.
A number of brokerages have commented on BLK. Citigroup downgraded shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price for the company. in a report on Thursday, January 25th. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $640.00 target price on shares of BlackRock in a report on Wednesday, March 14th. Wells Fargo reiterated a “market perform” rating and issued a $555.00 target price (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Finally, Argus reiterated a “buy” rating and issued a $620.00 target price (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $567.15.
Shares of BLK stock opened at $557.52 on Wednesday. BlackRock, Inc. has a 52 week low of $368.00 and a 52 week high of $594.52. The firm has a market capitalization of $90,590.30, a PE ratio of 18.40, a PEG ratio of 1.52 and a beta of 1.71. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.93.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. BlackRock had a return on equity of 12.31% and a net margin of 39.79%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the firm earned $5.14 earnings per share. The company’s revenue was up 20.0% on a year-over-year basis. research analysts forecast that BlackRock, Inc. will post 28.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a dividend of $2.88 per share. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.07%. BlackRock’s payout ratio is presently 38.02%.
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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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