Cohen & Steers Inc. Has $10.74 Million Position in BlackRock, Inc. (BLK)
Cohen & Steers Inc. cut its stake in BlackRock, Inc. (NYSE:BLK) by 17.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,019 shares of the asset manager’s stock after selling 4,926 shares during the period. Cohen & Steers Inc.’s holdings in BlackRock were worth $10,739,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its holdings in shares of BlackRock by 14.3% in the second quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after buying an additional 30 shares during the last quarter. Enterprise Financial Services Corp raised its holdings in shares of BlackRock by 52.5% in the second quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after buying an additional 85 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $104,000. Invictus RG purchased a new stake in shares of BlackRock in the third quarter valued at about $110,000. Finally, Proficio Capital Partners LLC raised its holdings in shares of BlackRock by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after buying an additional 3 shares during the last quarter. 83.74% of the stock is owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE BLK) opened at $515.49 on Monday. 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 1 year low of $365.83 and a 1 year high of $517.30. The firm has a market cap of $82,649.54, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.79 and a beta of 1.81.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.14 earnings per share. equities analysts anticipate that BlackRock, Inc. will post 22.34 EPS for the current fiscal year.
The firm also recently declared 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 1.94%. BlackRock’s dividend payout ratio is presently 46.82%.
A number of equities research analysts have recently commented on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $440.00 target price on shares of BlackRock in a report on Friday, August 18th. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $500.00 price target on shares of BlackRock in a report on Thursday, October 12th. Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. Finally, Barclays initiated coverage on shares of BlackRock in a report on Friday, September 8th. They set an “overweight” rating and a $475.00 price target for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $489.08.
In other news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan Wagner sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were 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. Insiders sold 5,200 shares of company stock worth $2,599,302 over the last quarter. Company insiders own 1.86% of the company’s stock.
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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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