AE Wealth Management LLC Boosts Stake in BlackRock, Inc. (BLK)
AE Wealth Management LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 34.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 654 shares of the asset manager’s stock after buying an additional 167 shares during the period. AE Wealth Management LLC’s holdings in BlackRock were worth $336,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of BLK. Stifel Financial Corp raised its position in BlackRock by 2,450.2% in the 3rd quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock worth $81,105,000 after purchasing an additional 174,554 shares during the period. PGGM Investments purchased a new position in BlackRock in the 3rd quarter worth $54,175,000. Janus Henderson Group PLC raised its position in BlackRock by 566.3% in the 2nd quarter. Janus Henderson Group PLC now owns 108,251 shares of the asset manager’s stock worth $45,730,000 after purchasing an additional 92,004 shares during the period. Atlantic Trust Group LLC raised its position in BlackRock by 24.1% in the 3rd quarter. Atlantic Trust Group LLC now owns 372,168 shares of the asset manager’s stock worth $166,393,000 after purchasing an additional 72,186 shares during the period. Finally, American Century Companies Inc. raised its position in BlackRock by 49.5% in the 3rd quarter. American Century Companies Inc. now owns 178,241 shares of the asset manager’s stock worth $79,690,000 after purchasing an additional 59,001 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.
A number of equities analysts recently commented on BLK shares. Argus reiterated a “buy” rating and issued a $620.00 target price (up previously from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Credit Suisse Group reiterated a “buy” rating and issued a $680.00 target price on shares of BlackRock in a research report on Friday, January 12th. Citigroup lifted their target price on shares of BlackRock to $625.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Jefferies Group lifted their target price on shares of BlackRock to $565.00 and gave the stock a “hold” rating in a research report on Monday, January 15th. Finally, Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $547.92.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.94 by $0.30. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.14 EPS. equities analysts expect that BlackRock, Inc. will post 28.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be issued a $2.88 dividend. This represents a $11.52 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is 33.00%.
In other news, insider Jeff A. Smith sold 1,250 shares of BlackRock stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $536.57, for a total transaction of $670,712.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Deryck C. Maughan bought 3,861 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were bought at an average cost of $573.44 per share, for a total transaction of $2,214,051.84. Following the purchase, the director now directly owns 12,265 shares in the company, valued at approximately $7,033,241.60. The disclosure for this purchase can be found here. In the last three months, insiders sold 5,775 shares of company stock worth $2,983,400. Insiders own 1.86% of the company’s stock.
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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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