Colony Group LLC Has $2.10 Million Holdings in BlackRock, Inc. (BLK)
Colony Group LLC raised its position in BlackRock, Inc. (NYSE:BLK) by 708.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,975 shares of the asset manager’s stock after buying an additional 4,360 shares during the period. Colony Group LLC’s holdings in BlackRock were worth $2,102,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Everett Harris & Co. CA increased its stake in BlackRock by 9.2% in the 2nd quarter. Everett Harris & Co. CA now owns 100,143 shares of the asset manager’s stock valued at $42,301,000 after buying an additional 8,478 shares during the last quarter. Stifel Financial Corp increased its stake in BlackRock by 19.1% in the 1st quarter. Stifel Financial Corp now owns 170,590 shares of the asset manager’s stock valued at $65,487,000 after buying an additional 27,321 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in BlackRock by 48.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 101,703 shares of the asset manager’s stock valued at $42,960,000 after buying an additional 33,400 shares during the last quarter. Blue Chip Partners Inc. increased its stake in BlackRock by 8.5% in the 2nd quarter. Blue Chip Partners Inc. now owns 13,440 shares of the asset manager’s stock valued at $5,677,000 after buying an additional 1,055 shares during the last quarter. Finally, KBC Group NV increased its stake in BlackRock by 35.1% in the 1st quarter. KBC Group NV now owns 50,282 shares of the asset manager’s stock valued at $19,284,000 after buying an additional 13,065 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Several equities research analysts have commented on BLK shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded shares of BlackRock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research note on Thursday. Bank of America Corporation reissued a “buy” rating and set a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Finally, Barclays PLC initiated coverage on shares of BlackRock in a research report on Friday, September 8th. They set an “overweight” rating and a $475.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $478.50.
BlackRock, Inc. (NYSE:BLK) traded down 1.06% on Friday, reaching $475.49. 639,780 shares of the company traded hands. BlackRock, Inc. has a 1-year low of $336.84 and a 1-year high of $485.23. The stock’s 50-day moving average is $437.24 and its 200-day moving average is $415.63. The stock has a market capitalization of $76.84 billion, a price-to-earnings ratio of 22.27 and a beta of 1.72.
BlackRock (NYSE:BLK) last announced 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 net margin of 29.52% and a return on equity of 12.09%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned $5.14 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post $22.35 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were given a $2.50 dividend. The ex-dividend date was Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.10%. BlackRock’s payout ratio is currently 46.82%.
In other BlackRock news, insider Mark Mccombe sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’s 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 5,547 shares of company stock valued at $2,382,163. Company insiders own 1.86% of the company’s stock.
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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