BlackRock, Inc. (BLK) Shares Sold by Archford Capital Strategies LLC
Archford Capital Strategies LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,531 shares of the asset manager’s stock after selling 132 shares during the period. Archford Capital Strategies LLC’s holdings in BlackRock were worth $1,579,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of BLK. Third Point LLC purchased a new position in BlackRock in the second quarter valued at about $654,736,000. Harbour Capital Advisors LLC increased its holdings in BlackRock by 38,807.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock valued at $2,848,000 after buying an additional 1,199,932 shares in the last quarter. Capital World Investors increased its holdings in BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after buying an additional 810,667 shares in the last quarter. Vanguard Group Inc. increased its holdings in BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after buying an additional 656,569 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in BlackRock by 207.1% in the second quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock valued at $222,771,000 after buying an additional 355,630 shares in the last quarter. 83.74% of the stock is owned by institutional investors.
BLK has been the subject of a number of recent research reports. Barclays initiated coverage on shares of BlackRock in a research note on Friday, September 8th. They set an “overweight” rating and a $475.00 price objective for the company. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Morgan Stanley reissued an “overweight” rating and set a $501.00 price objective (up from $476.00) on shares of BlackRock in a research note on Thursday, October 5th. Goldman Sachs Group raised shares of BlackRock from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Finally, J P Morgan Chase & Co raised their price objective on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and an average price target of $489.08.
BlackRock, Inc. (NYSE:BLK) opened at $512.55 on Thursday. 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 12 month low of $365.83 and a 12 month high of $518.88. The firm has a market cap of $83,008.69, a P/E ratio of 24.02, a PEG ratio of 1.80 and a beta of 1.81.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. BlackRock’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.14 EPS. research analysts predict that BlackRock, Inc. will post 22.34 earnings per share 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. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 annualized dividend and a yield of 1.95%. BlackRock’s payout ratio is currently 46.82%.
In other BlackRock news, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the sale, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders sold a total of 5,200 shares of company stock valued at $2,599,302 over the last ninety days. 1.86% of the stock is owned by corporate insiders.
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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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