BlackRock, Inc. (BLK) Shares Sold by Barrett Asset Management LLC
Barrett Asset Management LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,563 shares of the asset manager’s stock after selling 820 shares during the quarter. BlackRock comprises approximately 2.2% of Barrett Asset Management LLC’s portfolio, making the stock its 19th biggest position. Barrett Asset Management LLC’s holdings in BlackRock were worth $29,760,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Salem Investment Counselors Inc. raised its position in BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after acquiring an additional 30 shares in the last quarter. Enterprise Financial Services Corp raised its position in BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after acquiring an additional 85 shares in the last quarter. Penserra Capital Management LLC purchased a new position in BlackRock in the second quarter worth $104,000. Proficio Capital Partners LLC raised its position in BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after acquiring an additional 85 shares in the last quarter. Finally, Harfst & Associates Inc. raised its position in BlackRock by 17.3% in the second quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock worth $111,000 after acquiring an additional 39 shares in the last quarter. 82.13% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeff A. Smith sold 100 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,875 shares of company stock worth $2,101,166. Corporate insiders own 1.86% of the company’s stock.
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Several research analysts have issued reports on the company. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $465.00 price objective on shares of BlackRock in a research report on Thursday, October 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 price objective on shares of BlackRock in a research report on Thursday, October 12th. J P Morgan Chase & Co increased their price objective on BlackRock to $558.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $489.08.
Shares of BlackRock, Inc. (NYSE:BLK) traded up $6.59 during mid-day trading on Wednesday, hitting $481.36. The stock had a trading volume of 440,900 shares, compared to its average volume of 528,488. BlackRock, Inc. has a twelve month low of $365.83 and a twelve month high of $489.79. The stock has a market capitalization of $77,180.00, a PE ratio of 22.03, a P/E/G ratio of 1.64 and a beta of 1.79. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The business had revenue of $3.23 billion for 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 business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.14 earnings per share. analysts forecast that BlackRock, Inc. will post 22.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be paid a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, December 1st. BlackRock’s payout ratio is currently 46.82%.
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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