Gofen & Glossberg LLC IL Has $3.22 Million Holdings in BlackRock, Inc. (BLK)
Gofen & Glossberg LLC IL raised its stake in BlackRock, Inc. (NYSE:BLK) by 16.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,196 shares of the asset manager’s stock after purchasing an additional 1,038 shares during the period. Gofen & Glossberg LLC IL’s holdings in BlackRock were worth $3,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Somerset Trust Co increased its holdings in shares of BlackRock by 3.2% in the 2nd quarter. Somerset Trust Co now owns 3,237 shares of the asset manager’s stock valued at $1,367,000 after acquiring an additional 99 shares during the last quarter. Leavell Investment Management Inc. purchased a new position in shares of BlackRock in the 2nd quarter valued at about $210,000. Chesley Taft & Associates LLC increased its holdings in shares of BlackRock by 0.4% in the 2nd quarter. Chesley Taft & Associates LLC now owns 11,283 shares of the asset manager’s stock valued at $4,766,000 after acquiring an additional 47 shares during the last quarter. Franklin Street Advisors Inc. NC increased its holdings in shares of BlackRock by 9.1% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 33,137 shares of the asset manager’s stock valued at $13,997,000 after acquiring an additional 2,754 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in shares of BlackRock in the 2nd quarter valued at about $8,508,000. 83.74% of the stock is currently owned by institutional investors.
In other BlackRock news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Wagner sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the sale, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,200 shares of company stock valued at $2,599,302 over the last ninety days. 1.86% of the stock is owned by insiders.
BlackRock, Inc. (BLK) opened at $506.75 on Friday. The stock has a market capitalization of $82,178.16, a P/E ratio of 23.78, a P/E/G ratio of 1.78 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock, Inc. has a 12 month low of $365.83 and a 12 month high of $518.88.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.14 EPS. analysts expect that BlackRock, Inc. will post 22.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be given a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a yield of 1.97%. BlackRock’s payout ratio is 46.82%.
BLK has been the topic of a number of recent analyst reports. BidaskClub downgraded BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Barclays raised their price target on BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. J P Morgan Chase & Co raised their price target on BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Wells Fargo & Company restated a “market perform” rating and set a $475.00 price target (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Finally, Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. BlackRock currently has an average rating of “Buy” and a consensus target price of $489.08.
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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