Boston Private Wealth LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,395 shares of the company’s stock after selling 1,469 shares during the period. Boston Private Wealth LLC’s holdings in BlackRock were worth $22,253,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BLK. Cohen & Steers Inc. raised its position in shares of BlackRock by 5,080.7% in the second quarter. Cohen & Steers Inc. now owns 1,484,377 shares of the company’s stock valued at $38,371,000 after buying an additional 1,455,725 shares during the last quarter. Capital World Investors increased its position in shares of BlackRock by 33.3% in the third quarter. Capital World Investors now owns 4,375,014 shares of the company’s stock valued at $1,585,768,000 after buying an additional 1,092,806 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of BlackRock during the third quarter valued at approximately $235,549,000. Alleghany Corp DE increased its position in shares of BlackRock by 77.8% in the second quarter. Alleghany Corp DE now owns 400,000 shares of the company’s stock valued at $136,984,000 after buying an additional 175,000 shares during the period. Finally, Kleinwort Benson Investors Dublin Ltd bought a new position in shares of BlackRock during the second quarter valued at approximately $38,986,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc. (NYSE:BLK) opened at 382.89 on Friday. The company has a market capitalization of $62.46 billion, a PE ratio of 20.11 and a beta of 1.72. BlackRock, Inc. has a one year low of $297.89 and a one year high of $399.46. The firm’s 50 day moving average price is $379.67 and its 200-day moving average price is $369.64.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, January 13th. The company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.02 by $0.12. BlackRock had a return on equity of 11.20% and a net margin of 28.44%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the business earned $4.75 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts forecast that BlackRock, Inc. will post $21.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Monday, March 6th will be paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 2.61%. This is a boost from BlackRock’s previous quarterly dividend of $2.29. BlackRock’s dividend payout ratio is 48.11%.
Several equities analysts have commented on BLK shares. Argus reiterated a “buy” rating and set a $400.00 price target on shares of BlackRock in a report on Friday, October 21st. Citigroup Inc. reiterated a “buy” rating on shares of BlackRock in a report on Friday, October 21st. Wells Fargo & Company reiterated a “market perform” rating on shares of BlackRock in a report on Friday, October 21st. Credit Suisse Group reiterated a “buy” rating on shares of BlackRock in a report on Tuesday, January 17th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $383.00 price target on shares of BlackRock in a report on Wednesday, January 11th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $403.16.
In related news, COO Robert L. Goldstein sold 10,374 shares of the stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $377.31, for a total value of $3,914,213.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeff A. Smith sold 5,250 shares of the stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $377.00, for a total value of $1,979,250.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,614 shares of company stock worth $10,014,028. 2.20% of the stock is owned by company insiders.
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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