BlackRock, Inc. (BLK) Shares Bought by Santa Barbara Asset Management LLC
Santa Barbara Asset Management LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 15.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 346,348 shares of the asset manager’s stock after acquiring an additional 46,400 shares during the period. BlackRock makes up about 2.5% of Santa Barbara Asset Management LLC’s investment portfolio, making the stock its 17th largest position. Santa Barbara Asset Management LLC owned approximately 0.21% of BlackRock worth $154,849,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its position in BlackRock by 32.3% during the 3rd quarter. Lido Advisors LLC now owns 1,360 shares of the asset manager’s stock worth $640,000 after acquiring an additional 332 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in BlackRock by 2.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,849 shares of the asset manager’s stock worth $7,116,000 after acquiring an additional 400 shares during the period. Engineers Gate Manager LP acquired a new stake in BlackRock during the 3rd quarter worth about $1,441,000. University of Notre Dame DU Lac boosted its position in BlackRock by 1.5% during the 3rd quarter. University of Notre Dame DU Lac now owns 11,113 shares of the asset manager’s stock worth $4,969,000 after acquiring an additional 169 shares during the period. Finally, Synovus Financial Corp boosted its position in BlackRock by 10.4% during the 3rd quarter. Synovus Financial Corp now owns 4,908 shares of the asset manager’s stock worth $2,193,000 after acquiring an additional 464 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Mark Mccombe sold 1,000 shares of BlackRock stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $478.99, for a total transaction of $478,990.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director J. Richard Kushel sold 100 shares of BlackRock stock in a transaction dated Thursday, October 12th. The shares were 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. Over the last quarter, insiders have sold 5,200 shares of company stock valued at $2,599,302. 1.86% of the stock is owned by corporate insiders.
Shares of BlackRock, Inc. (NYSE:BLK) opened at $512.12 on Wednesday. The stock has a market capitalization of $82,330.48, a PE ratio of 23.83, a PEG ratio of 1.79 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock, Inc. has a 1-year low of $365.83 and a 1-year high of $515.60.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating 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%. The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.14 EPS. sell-side analysts anticipate that BlackRock, Inc. will post 22.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be issued a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 annualized dividend and a dividend yield of 1.95%. BlackRock’s dividend payout ratio is 46.82%.
A number of brokerages have commented on BLK. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Group restated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research report on Tuesday, September 26th. Wells Fargo & Company restated a “market perform” rating and set a $475.00 price objective (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price objective on shares of BlackRock in a research report on Thursday, October 12th. Finally, BidaskClub lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $489.08.
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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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