BlackRock, Inc. (BLK) Shares Sold by Kiwi Wealth Investments Limited Partnership
Kiwi Wealth Investments Limited Partnership lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,360 shares of the asset manager’s stock after selling 129 shares during the quarter. Kiwi Wealth Investments Limited Partnership’s holdings in BlackRock were worth $10,488,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Bamco Inc. NY purchased a new position in BlackRock during the first quarter worth about $106,000. Princeton Capital Management LLC purchased a new position in BlackRock during the first quarter worth about $115,000. Bray Capital Advisors purchased a new position in BlackRock during the first quarter worth about $128,000. O Shaughnessy Asset Management LLC purchased a new position in BlackRock during the first quarter worth about $139,000. Finally, Assetmark Inc. boosted its stake in BlackRock by 57.1% during the fourth quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after buying an additional 101 shares during the period. 83.76% of the stock is owned by institutional investors.
Several analysts have recently issued reports on BLK shares. Deutsche Bank reduced their price target on shares of BlackRock to $623.00 and set a “buy” rating on the stock in a research report on Tuesday, March 6th. ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $640.00 price target on shares of BlackRock in a research report on Wednesday, March 14th. Finally, Credit Suisse Group increased their price target on shares of BlackRock from $672.00 to $678.00 and gave the stock an “outperform” rating in a research report on Thursday, April 5th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $566.62.
Shares of NYSE:BLK opened at $525.81 on Thursday. The company has a market capitalization of $87.94 billion, a P/E ratio of 23.27, a PEG ratio of 1.66 and a beta of 1.67. BlackRock, Inc. has a fifty-two week low of $408.62 and a fifty-two week high of $594.52. The company has a debt-to-equity ratio of 1.02, a quick ratio of 3.96 and a current ratio of 3.96.
BlackRock (NYSE:BLK) last issued its earnings results on Thursday, April 12th. The asset manager reported $6.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.39 by $0.31. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. BlackRock had a net margin of 39.22% and a return on equity of 12.76%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $5.25 earnings per share. analysts predict that BlackRock, Inc. will post 28.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Thursday, June 7th will be issued a $2.88 dividend. The ex-dividend date of this dividend is Wednesday, June 6th. This represents a $11.52 annualized dividend and a yield of 2.19%. BlackRock’s dividend payout ratio (DPR) is 50.97%.
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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