Atria Investments LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 36.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,368 shares of the asset manager’s stock after selling 2,545 shares during the quarter. Atria Investments LLC’s holdings in BlackRock were worth $2,059,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in BLK. Bayesian Capital Management LP bought a new position in shares of BlackRock during the first quarter valued at about $319,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of BlackRock in the first quarter worth about $1,354,000. United Capital Financial Advisers LLC grew its stake in shares of BlackRock by 17.0% in the first quarter. United Capital Financial Advisers LLC now owns 26,860 shares of the asset manager’s stock worth $14,551,000 after purchasing an additional 3,902 shares during the last quarter. LPL Financial LLC grew its stake in shares of BlackRock by 7.9% in the first quarter. LPL Financial LLC now owns 22,627 shares of the asset manager’s stock worth $12,258,000 after purchasing an additional 1,650 shares during the last quarter. Finally, Mariner LLC grew its stake in shares of BlackRock by 33.4% in the first quarter. Mariner LLC now owns 1,908 shares of the asset manager’s stock worth $1,033,000 after purchasing an additional 478 shares during the last quarter. 82.80% of the stock is currently owned by hedge funds and other institutional investors.
NYSE BLK opened at $427.70 on Friday. The company has a current ratio of 3.87, a quick ratio of 3.87 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $75.22 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.46 and a beta of 1.55. BlackRock, Inc. has a 1 year low of $415.35 and a 1 year high of $594.52.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 16th. The asset manager reported $6.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.55 by $0.11. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.58 billion. BlackRock had a return on equity of 13.20% and a net margin of 38.97%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.24 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 27.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Shareholders of record on Friday, September 7th were given a dividend of $3.13 per share. This represents a $12.52 annualized dividend and a yield of 2.93%. This is a boost from BlackRock’s previous quarterly dividend of $2.88. The ex-dividend date of this dividend was Thursday, September 6th. BlackRock’s payout ratio is presently 55.40%.
Several analysts recently issued reports on BLK shares. JPMorgan Chase & Co. raised their target price on BlackRock from $541.00 to $592.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Deutsche Bank raised their target price on BlackRock from $549.00 to $559.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. Goldman Sachs Group cut their target price on BlackRock to $570.00 and set a “buy” rating on the stock in a research note on Tuesday, July 17th. Citigroup raised BlackRock from a “neutral” rating to a “buy” rating in a research note on Monday, June 18th. Finally, UBS Group cut their target price on BlackRock from $575.00 to $565.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $590.62.
In other news, Director William E. Ford acquired 1,000 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were acquired at an average cost of $467.92 per share, with a total value of $467,920.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,526,768. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Laurence Fink sold 19,800 shares of BlackRock stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $507.67, for a total value of $10,051,866.00. Following the sale, the chairman now directly owns 1,098,328 shares in the company, valued at $557,588,175.76. The disclosure for this sale can be found here. Insiders own 1.75% of the company’s stock.
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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