Steward Partners Investment Advisory LLC Acquires New Stake in BlackRock, Inc. (BLK)
Steward Partners Investment Advisory LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,979 shares of the asset manager’s stock, valued at approximately $1,778,000.
Other large investors also recently made changes to their positions in the company. Salem Investment Counselors Inc. lifted 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 purchasing an additional 30 shares in the last quarter. Enterprise Financial Services Corp lifted 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 purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of BlackRock in the second quarter valued at $104,000. Invictus RG purchased a new stake in shares of BlackRock in the third quarter valued at $110,000. Finally, Proficio Capital Partners LLC lifted 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 purchasing an additional 3 shares in the last quarter. Institutional investors own 83.74% of the company’s stock.
BlackRock, Inc. (NYSE BLK) opened at $506.75 on Friday. 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 cap of $82,178.16, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.78 and a beta of 1.81. BlackRock, Inc. has a 1 year low of $365.83 and a 1 year high of $518.88.
BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for 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 business’s quarterly revenue was up 14.0% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s payout ratio is 46.82%.
In other BlackRock news, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction dated 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 directly owns 481,915 shares in the company, valued at $243,897,181.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 100 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. Insiders have sold 5,200 shares of company stock worth $2,599,302 over the last three months. Company insiders own 1.86% of the company’s stock.
BLK has been the topic of a number of research reports. Jefferies Group reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. BidaskClub downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Barclays initiated coverage on shares of BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target on the stock. Finally, Goldman Sachs Group raised shares of BlackRock from a “neutral” rating to a “buy” rating and upped their price target for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $489.08.
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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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