SevenBridge Financial Group LLC Has $1,318,000 Position in BlackRock, Inc. (BLK)
SevenBridge Financial Group LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 85.6% during the third quarter, Holdings Channel reports. The institutional investor owned 3,774 shares of the company’s stock after selling 22,439 shares during the period. SevenBridge Financial Group LLC’s holdings in BlackRock were worth $1,318,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. NEXT Financial Group Inc increased its position in BlackRock by 22.2% in the third quarter. NEXT Financial Group Inc now owns 275 shares of the company’s stock valued at $100,000 after buying an additional 50 shares in the last quarter. Mycio Wealth Partners LLC increased its position in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock valued at $130,000 after buying an additional 12 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in BlackRock by 22.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 393 shares of the company’s stock valued at $142,000 after buying an additional 72 shares in the last quarter. Global X Management Co. LLC increased its position in BlackRock by 294.9% in the third quarter. Global X Management Co. LLC now owns 391 shares of the company’s stock valued at $142,000 after buying an additional 292 shares in the last quarter. Finally, Financial Architects Inc increased its position in BlackRock by 7.8% in the second quarter. Financial Architects Inc now owns 431 shares of the company’s stock valued at $148,000 after buying an additional 31 shares in the last quarter. 80.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BlackRock, Inc. (NYSE:BLK) traded up 0.28% on Friday, reaching $379.35. The company had a trading volume of 620,408 shares. BlackRock, Inc. has a 52 week low of $280.55 and a 52 week high of $399.46. The company has a 50 day moving average of $383.00 and a 200-day moving average of $365.28. The company has a market capitalization of $62.16 billion, a P/E ratio of 19.93 and a beta of 1.69.
BlackRock (NYSE:BLK) last posted its earnings results on Friday, January 13th. The company reported $5.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.02 by $0.12. The company earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.96 billion. BlackRock had a return on equity of 11.04% and a net margin of 28.59%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.75 earnings per share. Analysts predict that BlackRock, Inc. will post $19.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Monday, March 6th will be paid a $2.50 dividend. This is a boost from BlackRock’s previous quarterly dividend of $2.29. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.64%. BlackRock’s payout ratio is presently 48.16%.
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BLK has been the topic of several research analyst reports. Deutsche Bank AG upped their price objective on BlackRock from $412.00 to $418.00 and gave the company a “buy” rating in a research report on Wednesday, October 5th. Goldman Sachs Group, Inc. (The) downgraded BlackRock from a “buy” rating to a “neutral” rating and cut their price objective for the company from $410.00 to $403.00 in a research report on Wednesday, January 4th. Citigroup Inc. reaffirmed a “buy” rating and issued a $400.00 price objective on shares of BlackRock in a research report on Monday, October 10th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of BlackRock in a research report on Monday, October 10th. Finally, Jefferies Group upped their price objective on BlackRock from $357.00 to $367.00 and gave the company a “hold” rating in a research report on Tuesday, October 11th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $387.21.
In other news, insider Jeff A. Smith sold 125 shares of BlackRock stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $355.22, for a total value of $44,402.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William S. Demchak acquired 1,200 shares of the company’s stock in a transaction dated Thursday, October 27th. The stock was purchased at an average cost of $341.11 per share, with a total value of $409,332.00. Following the completion of the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $409,332. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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