Powell Investment Advisors LLC raised its position in BlackRock, Inc. (NYSE:BLK – Buy Rating) by 55.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 732 shares of the asset manager’s stock after purchasing an additional 261 shares during the quarter. Powell Investment Advisors LLC’s holdings in BlackRock were worth $403,000 as of its most recent SEC filing.
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A number of other large investors have also made changes to their positions in the company. Zacks Investment Management boosted its stake in shares of BlackRock by 2.8% in the 3rd quarter. Zacks Investment Management now owns 124,754 shares of the asset manager’s stock worth $68,650,000 after buying an additional 3,415 shares in the last quarter. Guardian Capital Advisors LP bought a new stake in BlackRock in the 3rd quarter valued at about $515,000. Royal Bank of Canada lifted its holdings in BlackRock by 0.3% in the 3rd quarter. Royal Bank of Canada now owns 747,610 shares of the asset manager’s stock valued at $411,395,000 after purchasing an additional 2,037 shares during the last quarter. Peoples Bank OH lifted its holdings in BlackRock by 4.6% in the 3rd quarter. Peoples Bank OH now owns 431 shares of the asset manager’s stock valued at $237,000 after purchasing an additional 19 shares during the last quarter. Finally, Allstate Corp lifted its holdings in BlackRock by 16.5% in the 3rd quarter. Allstate Corp now owns 7,071 shares of the asset manager’s stock valued at $3,891,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors own 77.69% of the company’s shares.
BlackRock Fund Performance
BLK stock traded down $4.64 on Friday, hitting $687.20. 174,896 shares were traded with an average volume of 708,680 shares. The firm has a market cap of $103.22 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 2.29 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.03, and a quick ratio of 3.03. BlackRock, Inc. has a 12-month low of $503.12 and a 12-month high of $788.65. The stock has a 50-day moving average of $728.91 and a 200-day moving average of $686.77.
BlackRock (NYSE:BLK – Get Ratings ) last released its quarterly earnings results on Friday, January 13th. The asset manager reported $8.93 earnings per share for the quarter, topping analysts’ consensus estimates of $7.99 by $0.94. BlackRock had a return on equity of 14.43% and a net margin of 28.97%. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.16 billion. equities analysts predict that BlackRock, Inc. will post 34.83 EPS for the current fiscal year.
BlackRock raises dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Tuesday, March 7th will be issued a $5.00 dividend. This means a dividend of $20.00 on an annual basis and a yield of 2.91%. This is an increase from BlackRock’s previous quarterly dividend of $4.88. The ex-dividend date is Monday, March 6th. BlackRock’s dividend payout ratio is 57.50%.
Changes in Analyst Ratings
Several research firms recently weighed in on BLK. Credit Suisse Group boosted their target price on BlackRock from $540.00 to $680.00 and gave the stock a “neutral” rating in a report on Thursday, January 12th. Goldman Sachs Group boosted their target price on BlackRock from $741.00 to $825.00 and gave the stock a “buy” rating in a report on Wednesday, January 4th. Morgan Stanley boosted their price objective on BlackRock from $785.00 to $828.00 and gave the stock an “overweight” rating in a report on Tuesday, January 17th. Wells Fargo & Company initiated coverage on BlackRock in a report on Wednesday, December 14th. They set an “overweight” rating and a $820.00 price target for the company. Finally, Bank of America reduced their price objective on BlackRock from $821.00 to $813.00 in a report on Sunday, January 15th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Average Buy” and a consensus target price of $738.80, according to MarketBeat data.
Insider Buying and Selling at BlackRock
In other BlackRock news, Director J. Richard Kushel sold 1,000 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock traded at an average price of $742.31, with a total value of $742,310.00. Following the sale, the director now directly owns 74,307 shares in the company, valued at $55,158,829.17. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this hyperlink. In other news, Director J. Richard Kushel sold 1,000 shares of the stock in a transaction on Tuesday, February 7th. The stock traded at an average price of $742.31, for a total transaction of $742,310.00. Following the sale, the director now owns 74,307 shares in the company, valued at $55,158,829.17. The sale was disclosed in a filing with the Securities and Exchange Commission, which is posted on the SEC’s website. Also, insider Marc D. Comerchero sold 650 shares of the stock in a transaction on Thursday, February 9th. The stock traded at an average price of $728.66, with a total value of $473,629.00. Following the sale, the insider now owns 3,055 shares in the company, valued at approximately $2,226,056.30. The disclosure for this sale can be found here. Insiders have sold 4,264 shares of company stock worth $3,182,738 in the last three months. Company insiders hold 1.06% of the company’s stock.
BlackRock Company Profile
(Get a rating)
BlackRock, Inc. provides investment management, risk management and advisory services to institutional and retail clients worldwide. Its products include single and multi-asset class portfolios that invest in equities, fixed income, alternatives and money market instruments. The company was founded by Ralph L.
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