Axa Has $40.66 Million Stake in BlackRock, Inc. (BLK)
Axa grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,952 shares of the asset manager’s stock after buying an additional 8,997 shares during the period. Axa owned 0.06% of BlackRock worth $40,663,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Salem Investment Counselors Inc. grew its holdings in shares of BlackRock by 14.3% during the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after purchasing an additional 30 shares in the last quarter. Invictus RG purchased a new position in shares of BlackRock during the third quarter worth about $110,000. Enterprise Financial Services Corp grew its holdings in shares of BlackRock by 52.5% during the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of BlackRock during the second quarter worth about $104,000. Finally, Proficio Capital Partners LLC grew its holdings in shares of BlackRock by 1.2% during the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after purchasing an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 83.74% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) opened at $511.87 on Friday. The stock has a market capitalization of $82,107.62, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock, Inc. has a 52 week low of $365.83 and a 52 week high of $518.88.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. BlackRock’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.14 earnings per share. equities analysts expect that BlackRock, Inc. will post 22.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s dividend payout ratio is currently 46.82%.
In other BlackRock news, insider Mark Mccombe sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,200 shares of company stock valued at $2,599,302. 1.86% of the stock is owned by insiders.
Several brokerages have recently commented on BLK. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Wells Fargo & Company reissued a “market perform” rating and set a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. J P Morgan Chase & Co boosted their price objective on BlackRock to $558.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. Finally, Jefferies Group reissued a “hold” rating and set a $465.00 price objective on shares of BlackRock in a report on Thursday, October 12th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $489.08.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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