Handelsbanken Fonder AB lessened its stake in shares of BlackRock, Inc. (NYSE:BLK) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,899 shares of the asset manager’s stock after selling 3,395 shares during the period. Handelsbanken Fonder AB’s holdings in BlackRock were worth $25,914,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its stake in BlackRock by 1.9% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 10,052 shares of the asset manager’s stock valued at $8,430,000 after acquiring an additional 186 shares in the last quarter. Spearhead Capital Advisors LLC grew its stake in BlackRock by 11.2% during the 3rd quarter. Spearhead Capital Advisors LLC now owns 11,817 shares of the asset manager’s stock valued at $9,910,000 after acquiring an additional 1,194 shares in the last quarter. AGF Investments Inc. grew its stake in BlackRock by 3.6% during the 2nd quarter. AGF Investments Inc. now owns 2,535 shares of the asset manager’s stock valued at $2,218,000 after acquiring an additional 88 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of BlackRock by 4.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 33,529 shares of the asset manager’s stock valued at $28,120,000 after buying an additional 1,399 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in shares of BlackRock by 23.8% in the 2nd quarter. Lido Advisors LLC now owns 2,818 shares of the asset manager’s stock valued at $2,466,000 after buying an additional 541 shares in the last quarter. 77.94% of the stock is currently owned by institutional investors.
BLK has been the subject of several recent research reports. Evercore ISI reissued a “buy” rating and issued a $956.00 price target on shares of BlackRock in a research note on Thursday, October 14th. Deutsche Bank Aktiengesellschaft lowered their price target on BlackRock from $1,141.00 to $1,123.00 in a research note on Thursday. Morgan Stanley upped their target price on BlackRock from $1,026.00 to $1,051.00 and gave the stock an “overweight” rating in a research report on Friday, January 7th. BMO Capital Markets decreased their target price on BlackRock from $797.00 to $794.00 and set a “market perform” rating for the company in a research report on Thursday, October 14th. Finally, Bank of America began coverage on BlackRock in a research report on Thursday, December 16th. They set a “buy” rating for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $987.71.
BlackRock (NYSE:BLK) last announced its earnings results on Friday, January 14th. The asset manager reported $10.42 EPS for the quarter, topping the consensus estimate of $10.15 by $0.27. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.15 billion. BlackRock had a return on equity of 16.72% and a net margin of 30.97%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.18 earnings per share. On average, equities research analysts predict that BlackRock, Inc. will post 39.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 23rd. Investors of record on Tuesday, December 7th were issued a $4.13 dividend. This represents a $16.52 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, December 6th. BlackRock’s dividend payout ratio is 43.94%.
In other BlackRock news, CEO Laurence Fink sold 16,365 shares of the stock in a transaction dated Thursday, December 2nd. The stock was sold at an average price of $920.92, for a total value of $15,070,855.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J. Richard Kushel sold 405 shares of the stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $964.45, for a total value of $390,602.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,017 shares of company stock worth $36,055,061. 1.16% of the stock is owned by company insiders.
BlackRock Company Profile
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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