BlackRock, Inc. (BLK) Stake Lessened by RiverPark Advisors LLC
RiverPark Advisors LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,277 shares of the asset manager’s stock after selling 267 shares during the period. RiverPark Advisors LLC’s holdings in BlackRock were worth $1,912,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Third Point LLC bought a new stake in BlackRock during the 2nd quarter worth $654,736,000. Harbour Capital Advisors LLC grew its position in BlackRock by 38,807.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after acquiring an additional 1,199,932 shares during the last quarter. Capital World Investors grew its position in BlackRock by 12.9% during the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after acquiring an additional 810,667 shares during the last quarter. Vanguard Group Inc. grew its position in BlackRock by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after acquiring an additional 656,569 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in BlackRock by 207.1% during the 2nd quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock worth $222,771,000 after acquiring an additional 355,630 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.
In other news, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the transaction, the director now directly owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction that occurred on 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. Insiders sold a total of 5,200 shares of company stock worth $2,599,302 over the last three months. 1.86% of the stock is owned by company insiders.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The firm’s revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.14 EPS. analysts forecast that BlackRock, Inc. will post 22.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, December 1st. BlackRock’s dividend payout ratio is 46.82%.
A number of brokerages recently weighed in on BLK. Jefferies Group restated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research report on Friday, August 18th. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Finally, Barclays started coverage on BlackRock in a research report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price target on the stock. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $489.08.
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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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