Regal Investment Advisors LLC Reduces Stake in BlackRock, Inc. (BLK)
Regal Investment Advisors LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 4.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,852 shares of the asset manager’s stock after selling 246 shares during the quarter. Regal Investment Advisors LLC’s holdings in BlackRock were worth $2,492,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Shields Capital Management LLC boosted its holdings in BlackRock by 33.6% in the fourth quarter. Wellington Shields Capital Management LLC now owns 2,619 shares of the asset manager’s stock worth $1,345,000 after purchasing an additional 659 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its holdings in BlackRock by 3.2% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 3,675 shares of the asset manager’s stock worth $1,888,000 after purchasing an additional 113 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in BlackRock by 1.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,421 shares of the asset manager’s stock worth $9,475,000 after purchasing an additional 242 shares in the last quarter. Cypress Wealth Services LLC bought a new stake in BlackRock in the fourth quarter worth $1,919,000. Finally, First National Bank of Omaha boosted its holdings in BlackRock by 0.9% in the fourth quarter. First National Bank of Omaha now owns 33,127 shares of the asset manager’s stock worth $17,018,000 after purchasing an additional 286 shares in the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of BlackRock, Inc. (BLK) opened at $521.51 on Friday. 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, Inc. has a fifty-two week low of $368.00 and a fifty-two week high of $594.52. The stock has a market cap of $85,610.00, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.37 and a beta of 1.75.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a yield of 2.21%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date is Tuesday, March 6th. BlackRock’s dividend payout ratio is 33.00%.
In other BlackRock news, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the sale, the director now directly owns 481,915 shares in the company, valued at $243,897,181.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 1,250 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $536.57, for a total transaction of $670,712.50. The disclosure for this sale can be found here. Insiders have sold 5,775 shares of company stock valued at $2,983,400 over the last 90 days. Corporate insiders own 1.86% of the company’s stock.
A number of equities research analysts recently issued reports on BLK shares. Argus reiterated a “buy” rating and issued a $620.00 price objective (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Credit Suisse Group reiterated a “buy” rating and issued a $680.00 price objective on shares of BlackRock in a report on Friday, January 12th. Citigroup upped their price objective on shares of BlackRock to $625.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Jefferies Group upped their price objective on shares of BlackRock to $565.00 and gave the stock a “hold” rating in a report on Monday, January 15th. Finally, Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $547.92.
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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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