Sabal Trust CO Buys 175 Shares of BlackRock, Inc. (BLK)
Sabal Trust CO grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 10.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,780 shares of the asset manager’s stock after acquiring an additional 175 shares during the period. Sabal Trust CO’s holdings in BlackRock were worth $698,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in BLK. Shine Investment Advisory Services Inc. lifted its holdings in shares of BlackRock by 18.1% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 176 shares of the asset manager’s stock valued at $69,000 after purchasing an additional 27 shares in the last quarter. IMS Capital Management lifted its holdings in shares of BlackRock by 0.8% in the third quarter. IMS Capital Management now owns 3,510 shares of the asset manager’s stock valued at $1,654,000 after purchasing an additional 28 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of BlackRock by 1.1% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,139 shares of the asset manager’s stock valued at $1,287,000 after purchasing an additional 35 shares in the last quarter. Fulton Bank N.A. increased its stake in shares of BlackRock by 7.0% in the fourth quarter. Fulton Bank N.A. now owns 551 shares of the asset manager’s stock worth $216,000 after acquiring an additional 36 shares during the last quarter. Finally, Oakwood Capital Management LLC CA increased its stake in shares of BlackRock by 0.3% in the fourth quarter. Oakwood Capital Management LLC CA now owns 15,339 shares of the asset manager’s stock worth $6,025,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 82.17% of the company’s stock.
BLK has been the topic of a number of research reports. Zacks Investment Research downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Deutsche Bank downgraded shares of BlackRock from a “buy” rating to a “hold” rating and dropped their price target for the stock from $444.00 to $405.00 in a research note on Thursday, January 10th. Citigroup dropped their price target on shares of BlackRock to $500.00 and set a “buy” rating on the stock in a research note on Wednesday, October 17th. ValuEngine raised shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, Goldman Sachs Group downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $501.03.
BlackRock stock opened at $416.39 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.07 and a current ratio of 3.07. The firm has a market cap of $65.85 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.59 and a beta of 1.37. BlackRock, Inc. has a one year low of $360.79 and a one year high of $578.80.
BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $6.35 by ($0.27). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.47 billion. BlackRock had a return on equity of 13.53% and a net margin of 30.32%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $6.24 earnings per share. On average, sell-side analysts predict that BlackRock, Inc. will post 25.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.17%. This is an increase from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date of this dividend is Tuesday, March 5th. BlackRock’s dividend payout ratio is presently 46.49%.
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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