Neville Rodie & Shaw Inc. Takes Position in BlackRock, Inc. (BLK)
Neville Rodie & Shaw Inc. acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 425 shares of the asset manager’s stock, valued at approximately $218,000.
A number of other hedge funds have also recently made changes to their positions in BLK. Third Point LLC purchased a new position in shares of BlackRock in the 2nd quarter valued at about $654,736,000. Capital World Investors increased its position in BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after buying an additional 810,667 shares during the period. Vanguard Group Inc. increased its position in BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after buying an additional 656,569 shares during the period. Principal Financial Group Inc. increased its position in BlackRock by 207.1% during the second quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock worth $222,771,000 after buying an additional 355,630 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of BlackRock by 3.2% in the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after purchasing an additional 209,209 shares during the period. Institutional investors own 83.53% of the company’s stock.
In related news, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction on Friday, November 17th. The shares were sold at an average price of $477.54, for a total transaction of $47,754.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Mccombe sold 1,000 shares of BlackRock stock in a transaction on Thursday, October 12th. The stock was 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 5,200 shares of company stock valued at $2,599,302 in the last three months. 1.86% of the stock is owned by insiders.
BlackRock, Inc. (NYSE BLK) opened at $514.34 on Thursday. BlackRock, Inc. has a fifty-two week low of $365.83 and a fifty-two week high of $520.74. The firm has a market cap of $82,470.00, a PE ratio of 24.08, a price-to-earnings-growth ratio of 1.57 and a beta of 1.81. 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 (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the firm posted $5.14 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. equities research analysts anticipate that BlackRock, Inc. will post 22.34 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Monday, December 4th were paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, December 1st. BlackRock’s dividend payout ratio is presently 46.82%.
Several brokerages have commented on BLK. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target for the company in a research note on Tuesday, October 3rd. Goldman Sachs Group raised BlackRock from a “neutral” rating to a “buy” rating and increased their target price for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Jefferies Group reaffirmed a “hold” rating and set a $440.00 target price on shares of BlackRock in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $500.00 target price on shares of BlackRock in a report on Thursday, October 12th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $475.00 price target (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $489.08.
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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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