Patten Group Inc. Purchases 1,064 Shares of BlackRock, Inc. (BLK)
Patten Group Inc. raised its position in BlackRock, Inc. (NYSE:BLK) by 251.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,487 shares of the asset manager’s stock after acquiring an additional 1,064 shares during the period. Patten Group Inc.’s holdings in BlackRock were worth $200,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. grew its stake in shares of BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 30 shares during the period. Invictus RG bought a new stake in shares of BlackRock in the 3rd quarter valued at approximately $110,000. Enterprise Financial Services Corp grew its position in BlackRock by 52.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after acquiring an additional 85 shares during the last quarter. Penserra Capital Management LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $104,000. Finally, Proficio Capital Partners LLC grew its position in BlackRock by 1.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after acquiring an additional 3 shares during the last quarter. Institutional investors own 83.74% of the company’s stock.
A number of research firms recently commented on BLK. Jefferies Group restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research report on Friday, August 18th. 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 restated a “hold” rating and set a $500.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Finally, Barclays began coverage on BlackRock in a research report on Friday, September 8th. They set an “overweight” rating and a $475.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $489.08.
BlackRock, Inc. (NYSE:BLK) opened at $517.73 on Wednesday. The company has a market capitalization of $82,110.83, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.81. 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, Inc. has a 12-month low of $365.83 and a 12-month high of $518.55.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the Zacks’ consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates 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 period last year, the company earned $5.14 EPS. equities research analysts predict that BlackRock, Inc. will post 22.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be given a $2.50 dividend. The ex-dividend date is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a yield of 1.93%. BlackRock’s payout ratio is 46.82%.
In other BlackRock news, Director J. Richard Kushel sold 100 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan Wagner sold 4,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the transaction, 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 a total of 5,200 shares of company stock worth $2,599,302 over the last quarter. Corporate 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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