BlackRock, Inc. (BLK) Stake Increased by Pinkerton Retirement Specialists LLC
Pinkerton Retirement Specialists LLC lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,070 shares of the asset manager’s stock after buying an additional 119 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in BlackRock were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Aperio Group LLC boosted its holdings in BlackRock by 8.6% in the third quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock worth $30,732,000 after purchasing an additional 5,451 shares during the period. Everett Harris & Co. CA boosted its holdings in BlackRock by 9.2% in the second quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock worth $42,301,000 after purchasing an additional 8,478 shares during the period. Canada Pension Plan Investment Board boosted its holdings in BlackRock by 48.9% in the second quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock worth $42,960,000 after purchasing an additional 33,400 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new position in BlackRock in the third quarter worth $222,000. Finally, Blue Chip Partners Inc. boosted its holdings in BlackRock by 8.5% in the second quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock worth $5,677,000 after purchasing an additional 1,055 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (BLK) traded down $0.30 during midday trading on Thursday, hitting $511.82. 386,800 shares of the company were exchanged, compared to its average volume of 527,797. BlackRock, Inc. has a fifty-two week low of $365.83 and a fifty-two week high of $516.52. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $82,109.23, a PE ratio of 23.76, a P/E/G ratio of 1.78 and a beta of 1.81.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the business earned $5.14 earnings per share. The company’s revenue was up 14.0% on a year-over-year basis. analysts expect that BlackRock, Inc. will post 22.3 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 1.95%. The ex-dividend date is Friday, December 1st. BlackRock’s dividend payout ratio is currently 46.82%.
In other BlackRock news, Director J. Richard Kushel sold 100 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction dated 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 owns 481,915 shares in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,200 shares of company stock worth $2,599,302. Company insiders own 1.86% of the company’s stock.
BLK has been the subject of a number of research reports. Barclays initiated coverage on shares of BlackRock in a report on Friday, September 8th. They issued 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 report on Tuesday, August 29th. Morgan Stanley reissued an “overweight” rating and set a $501.00 price target (up previously from $476.00) on shares of BlackRock in a report on Thursday, October 5th. Goldman Sachs Group raised shares of BlackRock from a “neutral” rating to a “buy” rating and boosted their price target for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Finally, J P Morgan Chase & Co boosted their price target on shares of BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $489.08.
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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