BlackRock, Inc. (BLK) Shares Sold by Haverford Financial Services Inc.
Haverford Financial Services Inc. cut its position in BlackRock, Inc. (NYSE:BLK) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,082 shares of the asset manager’s stock after selling 109 shares during the period. BlackRock makes up 4.2% of Haverford Financial Services Inc.’s holdings, making the stock its 7th largest position. Haverford Financial Services Inc.’s holdings in BlackRock were worth $10,767,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in BLK. Third Point LLC purchased a new stake in shares of BlackRock in the second quarter worth about $654,736,000. Harbour Capital Advisors LLC boosted its position in BlackRock by 38,807.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after purchasing an additional 1,199,932 shares in the last quarter. Capital World Investors boosted its position in BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. Vanguard Group Inc. boosted its position in BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in BlackRock by 207.1% during the second quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock worth $222,771,000 after purchasing an additional 355,630 shares in the last quarter. 82.13% of the stock is currently owned by institutional investors and hedge funds.
BlackRock, Inc. (BLK) opened at $478.94 on Friday. The firm has a market capitalization of $76,789.41, a P/E ratio of 22.23, a PEG ratio of 1.65 and a beta of 1.79. BlackRock, Inc. has a 1 year low of $365.83 and a 1 year high of $489.79. 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 (NYSE:BLK) last released its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.14 earnings per share. sell-side analysts expect that BlackRock, Inc. will post 22.29 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be given a $2.50 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 annualized dividend and a dividend yield of 2.09%. BlackRock’s dividend payout ratio (DPR) is presently 46.82%.
A number of brokerages have issued reports on BLK. Jefferies Group LLC reiterated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research report on Tuesday, September 26th. Wells Fargo & Company reiterated a “market perform” rating and set a $475.00 price target (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a research report on Tuesday, October 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $500.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Finally, BidaskClub downgraded BlackRock from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. 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 an average target price of $489.08.
In other news, insider Mark Mccombe sold 1,000 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J. Richard Kushel sold 100 shares of the firm’s stock in a transaction that occurred on 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. In the last 90 days, insiders sold 4,875 shares of company stock worth $2,101,166. Company insiders own 1.86% of the company’s stock.
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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