Wasatch Advisors Inc. Buys Shares of 710 BlackRock, Inc. (BLK)
Wasatch Advisors Inc. bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 710 shares of the asset manager’s stock, valued at approximately $317,000.
Several other institutional investors have also made changes to their positions in BLK. Vanguard Group Inc. grew its stake in BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. Capital World Investors grew its stake in BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. BlackRock Inc. grew its stake in BlackRock by 3.2% in the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after purchasing an additional 209,209 shares in the last quarter. State Street Corp grew its stake in BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock worth $2,088,501,000 after purchasing an additional 112,993 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in BlackRock by 8.2% in the first quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock worth $597,206,000 after purchasing an additional 118,222 shares in the last quarter. Institutional investors own 82.13% of the company’s stock.
BLK has been the subject of a number of research reports. BidaskClub downgraded BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Barclays PLC lifted their price target on BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. J P Morgan Chase & Co lifted their price target on BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 price target (up from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $489.08.
BlackRock, Inc. (BLK) opened at $479.74 on Friday. The company has a quick ratio of 2.89, a current 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. The company has a market capitalization of $76,917.67, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.79.
BlackRock (NYSE:BLK) last issued its earnings results 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. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm posted $5.14 earnings per share. BlackRock’s quarterly revenue was up 14.0% compared to the same quarter last year. equities research analysts predict that BlackRock, Inc. will post 22.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be paid 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 2.08%. BlackRock’s payout ratio is currently 46.82%.
In other news, insider Robert W. Fairbairn sold 3,675 shares of BlackRock stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 100 shares of BlackRock stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,875 shares of company stock valued at $2,101,166. 1.86% of the stock is currently owned by insiders.
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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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