BlackRock, Inc. (BLK) Stake Lowered by Pacer Advisors Inc.
Pacer Advisors Inc. reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,031 shares of the asset manager’s stock after selling 130 shares during the period. Pacer Advisors Inc.’s holdings in BlackRock were worth $1,355,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Security National Trust Co. grew its position in shares of BlackRock by 6.3% during the 3rd quarter. Security National Trust Co. now owns 5,447 shares of the asset manager’s stock valued at $2,435,000 after purchasing an additional 322 shares in the last quarter. Exencial Wealth Advisors LLC grew its position in shares of BlackRock by 23.3% during the 3rd quarter. Exencial Wealth Advisors LLC now owns 16,800 shares of the asset manager’s stock valued at $7,511,000 after purchasing an additional 3,173 shares in the last quarter. Girard Partners LTD. grew its position in shares of BlackRock by 0.7% during the 3rd quarter. Girard Partners LTD. now owns 22,363 shares of the asset manager’s stock valued at $9,998,000 after purchasing an additional 151 shares in the last quarter. AE Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter valued at $218,000. Finally, Cutler Investment Counsel LLC grew its position in shares of BlackRock by 1.5% during the 3rd quarter. Cutler Investment Counsel LLC now owns 25,328 shares of the asset manager’s stock valued at $11,324,000 after purchasing an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 82.13% of the company’s stock.
A number of research analysts have recently commented on the stock. Jefferies Group LLC restated 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 issued a $475.00 target price (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a research report on Tuesday, October 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 target price on shares of BlackRock in a research report on Thursday, October 12th. Finally, BidaskClub lowered shares of BlackRock from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $489.08.
Shares of BlackRock, Inc. (BLK) traded down $0.75 during trading hours on Wednesday, hitting $480.61. 61,667 shares of the stock traded hands, compared to its average volume of 528,488. The company has a market capitalization of $77,180.00, a P/E ratio of 22.03, a price-to-earnings-growth 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, Inc. has a 52-week low of $365.83 and a 52-week high of $489.79.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.14 earnings per share. equities research analysts expect that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, December 1st. BlackRock’s payout ratio is currently 46.82%.
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In other BlackRock news, insider Jeff A. Smith sold 100 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $477.54, for a total transaction of $47,754.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Mccombe sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total transaction of $478,990.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,875 shares of company stock valued at $2,101,166. 1.86% of the stock is owned by insiders.
BlackRock Company Profile
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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