BlackRock, Inc. (BLK) Stake Increased by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. grew its holdings in BlackRock, Inc. (NYSE:BLK) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,575 shares of the asset manager’s stock after buying an additional 971 shares during the period. Asset Management One Co. Ltd. owned 0.12% of BlackRock worth $84,747,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after buying an additional 656,569 shares during the last quarter. Capital World Investors lifted its position in shares of BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after buying an additional 810,667 shares during the last quarter. BlackRock Inc. increased its stake in shares of BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after purchasing an additional 209,209 shares during the period. Third Point LLC bought a new position in shares of BlackRock during the second quarter worth approximately $654,736,000. Finally, Harbour Capital Advisors LLC increased its stake in shares of BlackRock by 38,807.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after purchasing an additional 1,199,932 shares during the period. 83.75% of the stock is owned by institutional investors.
In other BlackRock news, Director Susan Wagner sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the transaction, the director now owns 481,915 shares in the company, valued at approximately $243,897,181.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark Mccombe sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,200 shares of company stock worth $2,599,302. Corporate insiders own 1.86% of the company’s stock.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the company earned $5.14 EPS. The company’s revenue was up 14.0% on a year-over-year basis. research analysts expect that BlackRock, Inc. will post 22.3 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be paid a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a yield of 1.95%. BlackRock’s dividend payout ratio (DPR) is presently 46.82%.
BLK has been the topic of a number of recent research reports. Goldman Sachs Group upgraded BlackRock from a “neutral” rating to a “buy” rating and increased their target price for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Company reiterated a “market perform” rating and set a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. Barclays initiated coverage on BlackRock in a research note on Friday, September 8th. They set an “overweight” rating and a $475.00 target price on the stock. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price on the stock in a research note on Tuesday, October 3rd. Finally, Jefferies Group reiterated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research note on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $489.08.
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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.
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