Bahl & Gaynor Inc. Decreases Position in BlackRock, Inc. (BLK)
Bahl & Gaynor Inc. trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 29.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 258,840 shares of the asset manager’s stock after selling 110,256 shares during the period. BlackRock accounts for about 1.6% of Bahl & Gaynor Inc.’s holdings, making the stock its 22nd biggest holding. Bahl & Gaynor Inc. owned approximately 0.16% of BlackRock worth $121,999,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in BLK. Truvestments Capital LLC purchased a new stake in BlackRock during the 3rd quarter worth $116,000. Canton Hathaway LLC purchased a new stake in BlackRock during the 3rd quarter worth $146,000. AlphaMark Advisors LLC purchased a new stake in BlackRock during the 2nd quarter worth $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in BlackRock during the 2nd quarter worth $150,000. Finally, Kaizen Advisory LLC boosted its position in BlackRock by 156.7% during the 2nd quarter. Kaizen Advisory LLC now owns 308 shares of the asset manager’s stock worth $154,000 after purchasing an additional 188 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on BLK. Deutsche Bank decreased their price target on shares of BlackRock from $458.00 to $444.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Morgan Stanley decreased their price target on shares of BlackRock from $554.00 to $514.00 and set an “overweight” rating for the company in a research report on Wednesday, November 14th. ValuEngine raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Argus decreased their price objective on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Finally, Citigroup decreased their price objective on shares of BlackRock to $500.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Four 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 price target of $554.31.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating analysts’ consensus estimates of $6.93 by $0.59. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.76 EPS. As a group, sell-side analysts expect that BlackRock, Inc. will post 27.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 7th will be given a $3.13 dividend. This represents a $12.52 dividend on an annualized basis and a yield of 3.11%. BlackRock’s payout ratio is currently 1.28%.
In related news, Director William E. Ford bought 2,000 shares of the business’s stock in a transaction dated Wednesday, October 17th. The shares were acquired at an average price of $409.59 per share, for a total transaction of $819,180.00. Following the purchase, the director now owns 7,466 shares in the company, valued at approximately $3,057,998.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.75% of the company’s stock.
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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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