Bank of Hawaii boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 17.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,674 shares of the asset manager’s stock after buying an additional 253 shares during the period. Bank of Hawaii’s holdings in BlackRock were worth $943,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of BlackRock by 40.2% in the 2nd quarter. Vanguard Group Inc. now owns 12,955,301 shares of the asset manager’s stock worth $7,048,850,000 after purchasing an additional 3,714,710 shares in the last quarter. FMR LLC raised its stake in BlackRock by 182.3% during the 2nd quarter. FMR LLC now owns 3,699,444 shares of the asset manager’s stock valued at $2,012,831,000 after buying an additional 2,388,836 shares during the last quarter. BlackRock Inc. raised its stake in BlackRock by 21.0% during the 2nd quarter. BlackRock Inc. now owns 9,986,435 shares of the asset manager’s stock valued at $5,433,521,000 after buying an additional 1,731,325 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in BlackRock by 929.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 646,983 shares of the asset manager’s stock valued at $352,017,000 after buying an additional 584,108 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in BlackRock by 57.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,583,232 shares of the asset manager’s stock valued at $861,421,000 after buying an additional 577,342 shares during the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.
BLK has been the subject of a number of research reports. Citigroup boosted their target price on shares of BlackRock from $690.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. Morgan Stanley upped their price objective on BlackRock from $652.00 to $686.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $685.00 to $795.00 and gave the stock a “buy” rating in a research note on Wednesday, November 11th. Wells Fargo & Company restated a “buy” rating on shares of BlackRock in a research note on Wednesday, October 14th. Finally, Barclays upped their price objective on BlackRock from $625.00 to $700.00 in a research note on Wednesday, October 14th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and a consensus target price of $644.58.
In related news, Director Mark Wiedman sold 3,850 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $626.47, for a total value of $2,411,909.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Christopher J. Meade sold 699 shares of the stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $669.79, for a total transaction of $468,183.21. The disclosure for this sale can be found here. Insiders sold a total of 4,839 shares of company stock worth $3,082,719 over the last three months. 1.42% of the stock is currently owned by corporate insiders.
Shares of NYSE:BLK opened at $698.35 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12 month low of $323.98 and a 12 month high of $718.85. The company has a 50-day moving average price of $653.16 and a 200 day moving average price of $583.26. The company has a market cap of $106.51 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 2.42 and a beta of 1.14.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Sunday, October 18th. The asset manager reported $9.22 EPS for the quarter, beating the Zacks’ consensus estimate of $7.45 by $1.77. BlackRock had a net margin of 29.83% and a return on equity of 14.91%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm earned $7.15 EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities analysts forecast that BlackRock, Inc. will post 32.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Friday, December 4th will be issued a $3.63 dividend. This represents a $14.52 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, December 3rd. BlackRock’s payout ratio is 50.98%.
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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