Adage Capital Partners GP L.L.C. reduced its position in BlackRock, Inc. (NYSE:BLK) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 213,180 shares of the company’s stock after selling 11,000 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in BlackRock were worth $77,269,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. NEXT Financial Group Inc increased its stake in BlackRock by 22.2% in the third quarter. NEXT Financial Group Inc now owns 275 shares of the company’s stock worth $100,000 after buying an additional 50 shares during the period. Mycio Wealth Partners LLC increased its stake in BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock worth $130,000 after buying an additional 12 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in BlackRock by 22.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 393 shares of the company’s stock worth $142,000 after buying an additional 72 shares during the period. Global X Management Co. LLC increased its stake in BlackRock by 294.9% in the third quarter. Global X Management Co. LLC now owns 391 shares of the company’s stock worth $142,000 after buying an additional 292 shares during the period. Finally, Adirondack Trust Co. increased its stake in BlackRock by 16.7% in the third quarter. Adirondack Trust Co. now owns 420 shares of the company’s stock worth $153,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) opened at 382.89 on Friday. BlackRock, Inc. has a one year low of $297.89 and a one year high of $399.46. The company has a 50-day moving average of $379.67 and a 200-day moving average of $369.64. The company has a market capitalization of $62.46 billion, a PE ratio of 20.11 and a beta of 1.72.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, January 13th. The company reported $5.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.02 by $0.12. BlackRock had a net margin of 28.44% and a return on equity of 11.20%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the firm earned $4.75 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts anticipate that BlackRock, Inc. will post $21.36 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Monday, March 6th will be issued a $2.50 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $2.29. This represents a $10.00 annualized dividend and a yield of 2.61%. BlackRock’s dividend payout ratio (DPR) is 48.11%.
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Several research firms have issued reports on BLK. Keefe, Bruyette & Woods set a $393.00 price target on BlackRock and gave the company a “hold” rating in a report on Friday, October 14th. Barclays PLC dropped their price target on BlackRock from $411.00 to $396.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 17th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Saturday, December 10th. Morgan Stanley reaffirmed a “market perform” rating on shares of BlackRock in a report on Saturday, December 17th. Finally, Citigroup Inc. upped their price target on BlackRock from $425.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, January 25th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $403.16.
In other BlackRock news, insider J. Richard Kushel sold 8,573 shares of the stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $374.92, for a total value of $3,214,189.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Gary Shedlin sold 2,417 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $375.00, for a total transaction of $906,375.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,614 shares of company stock worth $10,014,028. Company insiders own 2.20% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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