Nicola Wealth Management LTD. cut its position in BlackRock, Inc. (NYSE:BLK) by 35.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the asset manager’s stock after selling 2,200 shares during the period. Nicola Wealth Management LTD.’s holdings in BlackRock were worth $1,885,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bristlecone Advisors LLC lifted its position in BlackRock by 51.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 6,667 shares of the asset manager’s stock valued at $3,142,000 after acquiring an additional 2,260 shares in the last quarter. Exchange Capital Management Inc. lifted its position in shares of BlackRock by 3.0% during the 3rd quarter. Exchange Capital Management Inc. now owns 12,588 shares of the asset manager’s stock worth $5,933,000 after buying an additional 367 shares in the last quarter. New Potomac Partners LLC lifted its position in shares of BlackRock by 4.4% during the 3rd quarter. New Potomac Partners LLC now owns 5,332 shares of the asset manager’s stock worth $2,513,000 after buying an additional 225 shares in the last quarter. Soros Fund Management LLC lifted its position in shares of BlackRock by 59.8% during the 2nd quarter. Soros Fund Management LLC now owns 12,983 shares of the asset manager’s stock worth $6,479,000 after buying an additional 4,858 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of BlackRock by 2.8% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,293 shares of the asset manager’s stock worth $3,639,000 after buying an additional 200 shares in the last quarter. Institutional investors own 83.14% of the company’s stock.
BlackRock stock opened at $400.23 on Friday. BlackRock, Inc. has a 1-year low of $376.31 and a 1-year high of $594.52. The company has a market capitalization of $64.46 billion, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 1.27 and a beta of 1.55. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, beating analysts’ consensus estimates of $6.93 by $0.59. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $5.76 EPS. Sell-side analysts forecast that BlackRock, Inc. will post 27.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be given a dividend of $3.13 per share. The ex-dividend date is Thursday, December 6th. This represents a $12.52 dividend on an annualized basis and a dividend yield of 3.13%. BlackRock’s dividend payout ratio (DPR) is currently 55.40%.
BLK has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on shares of BlackRock from $554.00 to $514.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 14th. Citigroup lowered their price target on shares of BlackRock to $500.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a report on Friday, August 31st. Goldman Sachs Group cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, October 17th. Finally, Wells Fargo & Co lowered their price target on shares of BlackRock from $545.00 to $510.00 and set a “market perform” rating on the stock in a report on Thursday, October 11th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $548.86.
In related news, Director William E. Ford bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The stock was bought at an average cost of $395.21 per share, for a total transaction of $790,420.00. Following the completion of the transaction, the director now owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J. Richard Kushel sold 2,100 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $419.11, for a total transaction of $880,131.00. The disclosure for this sale can be found here. 1.86% of the stock is owned by insiders.
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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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