Jacobs Levy Equity Management Inc. Sells 783 Shares of BlackRock, Inc. (NYSE:BLK)
Jacobs Levy Equity Management Inc. trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 18.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,424 shares of the asset manager’s stock after selling 783 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in BlackRock were worth $1,721,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of BLK. Virtus ETF Advisers LLC bought a new position in shares of BlackRock in the 4th quarter worth $25,000. Hall Laurie J Trustee purchased a new stake in BlackRock in the 4th quarter valued at $25,000. Carmichael Hill & Associates Inc. purchased a new stake in BlackRock in the 4th quarter valued at $27,000. CFM Wealth Partners LLC purchased a new stake in BlackRock in the 4th quarter valued at $33,000. Finally, Solstein Capital LLC purchased a new stake in BlackRock in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 83.16% of the company’s stock.
In other BlackRock news, insider Marc D. Comerchero sold 600 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $553.01, for a total value of $331,806.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Laurence Fink sold 46,730 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $536.74, for a total value of $25,081,860.20. The disclosure for this sale can be found here. In the last three months, insiders sold 110,381 shares of company stock valued at $60,691,912. 1.42% of the stock is currently owned by insiders.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $8.34 earnings per share for the quarter, topping the consensus estimate of $7.69 by $0.65. BlackRock had a return on equity of 13.86% and a net margin of 30.79%. The company had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same quarter last year, the firm posted $6.08 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock, Inc. will post 28.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Thursday, March 5th were issued a $3.63 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $14.52 annualized dividend and a yield of 3.62%. This is a positive change from BlackRock’s previous quarterly dividend of $3.30. BlackRock’s dividend payout ratio (DPR) is 50.98%.
A number of equities research analysts recently commented on the company. Citigroup lowered their price target on BlackRock from $600.00 to $510.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Deutsche Bank lowered their price target on BlackRock from $516.00 to $463.00 and set a “hold” rating for the company in a research report on Wednesday, March 18th. Morgan Stanley reissued a “buy” rating and issued a $582.00 price target on shares of BlackRock in a research report on Wednesday. Wells Fargo & Co lowered their price target on BlackRock from $590.00 to $490.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Finally, JPMorgan Chase & Co. lowered their price target on BlackRock from to in a research report on Monday, March 16th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $505.08.
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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