Truvestments Capital LLC Sells 239 Shares of BlackRock, Inc. (NYSE:BLK)

Truvestments Capital LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 65.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124 shares of the asset manager’s stock after selling 239 shares during the period. Truvestments Capital LLC’s holdings in BlackRock were worth $70,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Guggenheim Capital LLC lifted its stake in shares of BlackRock by 13.4% in the third quarter. Guggenheim Capital LLC now owns 24,289 shares of the asset manager’s stock valued at $13,688,000 after buying an additional 2,879 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of BlackRock by 0.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 31,850 shares of the asset manager’s stock valued at $17,949,000 after buying an additional 89 shares during the period. Bank of Hawaii lifted its stake in shares of BlackRock by 17.8% in the third quarter. Bank of Hawaii now owns 1,674 shares of the asset manager’s stock valued at $943,000 after buying an additional 253 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of BlackRock by 26.2% in the third quarter. Great West Life Assurance Co. Can now owns 151,169 shares of the asset manager’s stock valued at $65,333,000 after buying an additional 31,428 shares during the period. Finally, University of Notre Dame DU Lac bought a new stake in shares of BlackRock in the third quarter valued at about $8,900,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Several research firms recently issued reports on BLK. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $685.00 to $795.00 and gave the stock a “buy” rating in a research report on Wednesday, November 11th. Citigroup increased their price target on shares of BlackRock from $690.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Barclays increased their price target on shares of BlackRock from $625.00 to $700.00 in a research report on Wednesday, October 14th. Morgan Stanley increased their price target on shares of BlackRock from $652.00 to $686.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. Finally, BMO Capital Markets increased their price target on shares of BlackRock from $594.00 to $602.00 and gave the stock a “market perform” rating in a research report on Thursday, October 15th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $644.58.

In other news, General Counsel Christopher J. Meade sold 699 shares of BlackRock stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $669.79, for a total transaction of $468,183.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 3,850 shares of BlackRock stock in a transaction on Monday, October 26th. The stock was sold at an average price of $626.47, for a total transaction of $2,411,909.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,839 shares of company stock worth $3,082,719. Insiders own 1.42% of the company’s stock.

Shares of BlackRock stock opened at $698.35 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.01 and a quick ratio of 1.02. The firm has a market cap of $106.51 billion, a P/E ratio of 23.15, a P/E/G ratio of 2.42 and a beta of 1.14. The firm has a 50 day simple moving average of $653.16 and a 200 day simple moving average of $583.26. BlackRock, Inc. has a fifty-two week low of $323.98 and a fifty-two week high of $718.85.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Sunday, October 18th. The asset manager reported $9.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period last year, the firm earned $7.15 earnings per share. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 32.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Friday, December 4th will be paid a $3.63 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $14.52 dividend on an annualized basis and a yield of 2.08%. BlackRock’s payout ratio is presently 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.

Featured Story: Percentage Gainers

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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