Victory Capital Management Inc. Has $3.59 Million Stake in BlackRock, Inc. (BLK)
Victory Capital Management Inc. increased its stake in BlackRock, Inc. (NYSE:BLK) by 20.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,029 shares of the asset manager’s stock after acquiring an additional 1,337 shares during the period. Victory Capital Management Inc.’s holdings in BlackRock were worth $3,590,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 1ST Source Bank acquired a new stake in shares of BlackRock in the third quarter valued at $213,000. Crossmark Global Holdings Inc. acquired a new stake in shares of BlackRock in the third quarter valued at $6,703,000. Lyell Wealth Management LP raised its stake in shares of BlackRock by 2.0% in the third quarter. Lyell Wealth Management LP now owns 9,969 shares of the asset manager’s stock valued at $4,457,000 after acquiring an additional 197 shares in the last quarter. Parsons Capital Management Inc. RI increased its holdings in BlackRock by 1.2% in the third quarter. Parsons Capital Management Inc. RI now owns 15,184 shares of the asset manager’s stock valued at $6,789,000 after buying an additional 175 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in BlackRock by 48.8% in the third quarter. Penserra Capital Management LLC now owns 369 shares of the asset manager’s stock valued at $164,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.
In related news, insider Mark Mccombe sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 100 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was 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. In the last ninety days, insiders have sold 4,775 shares of company stock worth $2,053,412. Corporate insiders own 1.86% of the company’s stock.
Several equities analysts recently commented on BLK shares. BidaskClub lowered BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Barclays PLC increased their target price on BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. J P Morgan Chase & Co increased their target price on BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 target price (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $489.08.
BlackRock, Inc. (NYSE:BLK) opened at $474.02 on Friday. The stock has a market capitalization of $76,031.39, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.62 and a beta of 1.79. BlackRock, Inc. has a twelve month low of $365.83 and a twelve month high of $489.79. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.14 earnings per share. sell-side analysts forecast that BlackRock, Inc. will post 22.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be issued a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.11%. BlackRock’s payout ratio is 46.82%.
TRADEMARK VIOLATION NOTICE: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/11/17/victory-capital-management-inc-has-3-59-million-stake-in-blackrock-inc-blk.html.
BlackRock Company Profile
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.
Receive News & Stock Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related stocks with our FREE daily email newsletter.