Sage Capital Advisors llc Reduces Position in BlackRock, Inc. (BLK)
Sage Capital Advisors llc reduced its holdings in BlackRock, Inc. (NYSE:BLK) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,006 shares of the asset manager’s stock after selling 138 shares during the quarter. BlackRock makes up about 1.3% of Sage Capital Advisors llc’s portfolio, making the stock its 28th largest holding. Sage Capital Advisors llc’s holdings in BlackRock were worth $1,791,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Institutional & Family Asset Management LLC increased its position in BlackRock by 29.6% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 2,068 shares of the asset manager’s stock valued at $925,000 after acquiring an additional 472 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in BlackRock in the 3rd quarter valued at approximately $1,778,000. Public Employees Retirement System of Ohio increased its position in shares of BlackRock by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 90,672 shares of the asset manager’s stock worth $40,539,000 after buying an additional 719 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of BlackRock during the third quarter worth $207,000. Finally, Garde Capital Inc. acquired a new stake in shares of BlackRock during the third quarter worth $1,346,000. Hedge funds and other institutional investors own 83.74% of the company’s stock.
Several equities research analysts have recently weighed in on BLK shares. BidaskClub cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Barclays increased their price objective on shares of BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. J P Morgan Chase & Co increased their price objective on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Wells Fargo & Company reiterated a “market perform” rating and set a $475.00 price objective (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. BlackRock presently has a consensus rating of “Buy” and a consensus price target of $489.08.
BlackRock, Inc. (NYSE BLK) opened at $506.75 on Friday. The stock has a market cap of $82,178.16, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.78 and a beta of 1.81. BlackRock, Inc. has a 12 month low of $365.83 and a 12 month high of $518.88. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. BlackRock’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior 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 announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, December 1st. BlackRock’s dividend payout ratio is presently 46.82%.
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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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