Buckingham Asset Management LLC Buys 192 Shares of BlackRock, Inc. (BLK)
Buckingham Asset Management LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 9.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,219 shares of the asset manager’s stock after buying an additional 192 shares during the quarter. Buckingham Asset Management LLC’s holdings in BlackRock were worth $992,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after acquiring an additional 656,569 shares during the last quarter. Capital World Investors raised its holdings in BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after acquiring an additional 810,667 shares during the last quarter. BlackRock Inc. raised its holdings in BlackRock by 3.2% in the 2nd quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after acquiring an additional 209,209 shares during the last quarter. State Street Corp raised its holdings in BlackRock by 2.1% in the 1st quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after acquiring an additional 112,993 shares during the last quarter. Finally, UBS Group AG raised its holdings in BlackRock by 40.2% in the 1st quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock valued at $650,563,000 after acquiring an additional 486,502 shares during the last quarter. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
In other BlackRock news, Director J. Richard Kushel sold 100 shares of the company’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,775 shares of company stock valued at $2,053,412. 1.86% of the stock is owned by insiders.
Shares of BlackRock, Inc. (BLK) traded up $3.52 during midday trading on Friday, reaching $474.02. The company had a trading volume of 247,500 shares, compared to its average volume of 529,600. BlackRock, Inc. has a 52-week low of $365.83 and a 52-week high of $489.79. The firm has a market cap of $76,250.00, a P/E ratio of 21.83, a P/E/G ratio of 1.62 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 announced its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the firm earned $5.14 EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. equities analysts predict 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 issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.11%. BlackRock’s dividend payout ratio is currently 46.82%.
Several research analysts have weighed in on the company. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $465.00 price target on shares of BlackRock in a report on Thursday, October 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price objective on shares of BlackRock in a report on Thursday, October 12th. J P Morgan Chase & Co upped their price objective on BlackRock to $558.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $475.00 price objective (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $489.08.
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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