Blue Edge Capital LLC Reduces Stake in BlackRock, Inc. (BLK)
Blue Edge Capital LLC lowered its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,789 shares of the asset manager’s stock after selling 183 shares during the quarter. Blue Edge Capital LLC’s holdings in BlackRock were worth $1,247,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of BLK. Bank of Montreal Can increased its position in shares of BlackRock by 16.8% in the second quarter. Bank of Montreal Can now owns 69,731 shares of the asset manager’s stock worth $29,455,000 after purchasing an additional 10,008 shares during the period. First Financial Bank Trust Division increased its position in shares of BlackRock by 2.2% in the second quarter. First Financial Bank Trust Division now owns 17,531 shares of the asset manager’s stock worth $7,406,000 after purchasing an additional 374 shares during the period. Pennsylvania Trust Co grew its position in BlackRock by 12.0% in the second quarter. Pennsylvania Trust Co now owns 32,228 shares of the asset manager’s stock valued at $13,613,000 after acquiring an additional 3,462 shares during the last quarter. NN Investment Partners Holdings N.V. grew its position in BlackRock by 16.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,685 shares of the asset manager’s stock valued at $711,000 after acquiring an additional 238 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp grew its position in BlackRock by 2,289.7% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 17,373 shares of the asset manager’s stock valued at $7,339,000 after acquiring an additional 16,646 shares during the last quarter. 83.74% of the stock is owned by institutional investors.
In other BlackRock news, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction that occurred on 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 $243,897,181.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Mccombe sold 1,000 shares of the business’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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,200 shares of company stock worth $2,599,302. 1.86% of the stock is owned by insiders.
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. 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 firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.14 earnings per share. analysts predict that BlackRock, Inc. will post 22.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors 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 1.94%. The ex-dividend date is Friday, December 1st. BlackRock’s dividend payout ratio is currently 46.82%.
BLK has been the topic of a number of recent analyst reports. Goldman Sachs Group upgraded BlackRock from a “neutral” rating to a “buy” rating and lifted their target price for the company from $440.00 to $500.00 in a research report on Thursday, September 28th. Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Barclays initiated coverage on BlackRock in a research report on Friday, September 8th. They issued 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 report on Tuesday, October 3rd. Finally, Jefferies Group restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a report on Tuesday, September 26th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus 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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