Colony Group LLC Buys 1,374 Shares of BlackRock, Inc. (BLK)
Colony Group LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 34.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,365 shares of the asset manager’s stock after acquiring an additional 1,374 shares during the period. Colony Group LLC’s holdings in BlackRock were worth $2,108,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of BLK. WESPAC Advisors SoCal LLC acquired a new position in BlackRock in the 4th quarter valued at about $25,000. Hanson McClain Inc. increased its position in BlackRock by 425.0% in the 4th quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 51 shares during the period. Private Ocean LLC increased its position in BlackRock by 620.0% in the 4th quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 62 shares during the period. Evolution Wealth Advisors LLC acquired a new position in BlackRock in the 4th quarter valued at about $33,000. Finally, Legacy Financial Advisors Inc. increased its position in BlackRock by 125.6% in the 4th quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.
Several brokerages recently issued reports on BLK. Deutsche Bank boosted their price target on BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a research report on Friday, March 15th. Barclays boosted their target price on BlackRock from $472.00 to $490.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Bank of America reiterated a “buy” rating and set a $498.00 target price (up previously from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Zacks Investment Research upgraded BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley set a $515.00 target price on BlackRock and gave the stock a “buy” rating in a research report on Friday, February 8th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $498.49.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.35 by ($0.27). BlackRock had a return on equity of 13.51% and a net margin of 30.32%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the firm posted $6.24 EPS. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock, Inc. will post 26.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a dividend of $3.30 per share. This is a boost from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date was Tuesday, March 5th. This represents a $13.20 annualized dividend and a yield of 3.16%. BlackRock’s payout ratio is presently 49.02%.
In related news, COO Robert L. Goldstein sold 5,133 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $443.00, for a total value of $2,273,919.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Laurence Fink sold 25,102 shares of the company’s stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $418.89, for a total value of $10,514,976.78. The disclosure for this sale can be found here. Insiders have sold a total of 138,650 shares of company stock worth $57,774,089 in the last quarter. 1.75% of the stock is currently owned by insiders.
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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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