Basswood Capital Management L.L.C. purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,177 shares of the asset manager’s stock, valued at approximately $14,997,000.
Several other institutional investors also recently added to or reduced their stakes in BLK. WESPAC Advisors SoCal LLC purchased a new stake in shares of BlackRock during the fourth quarter worth approximately $25,000. Hanson McClain Inc. raised its stake in shares of BlackRock by 425.0% during the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after purchasing an additional 51 shares during the last quarter. Private Ocean LLC raised its stake in shares of BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after purchasing an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter worth approximately $33,000. Finally, Legacy Financial Advisors Inc. raised its stake in shares of BlackRock by 125.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock worth $35,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 82.09% of the company’s stock.
NYSE:BLK opened at $433.55 on Friday. The firm has a market capitalization of $67.61 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.11 and a quick ratio of 1.11. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $573.47.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $6.35 by ($0.27). The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.47 billion. BlackRock had a return on equity of 13.51% and a net margin of 30.32%. The company’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.24 EPS. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 26.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th will be given a $3.30 dividend. This is a boost from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date is Tuesday, March 5th. This represents a $13.20 annualized dividend and a yield of 3.04%. BlackRock’s dividend payout ratio is presently 49.02%.
Several research firms have recently commented on BLK. Zacks Investment Research cut BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Deutsche Bank increased their price objective on BlackRock from $428.00 to $431.00 and gave the stock a “hold” rating in a research report on Friday. Bank of America reiterated a “buy” rating and issued a $498.00 price objective (up previously from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Barclays increased their price objective on BlackRock from $472.00 to $490.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $472.00 price objective on shares of BlackRock in a research report on Wednesday, January 9th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $498.49.
In other BlackRock news, COO Robert L. Goldstein sold 5,133 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $443.00, for a total value of $2,273,919.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Laurence Fink sold 25,102 shares of the company’s stock in a transaction on Friday, January 18th. The shares were sold at an average price of $418.89, for a total value of $10,514,976.78. The disclosure for this sale can be found here. Insiders sold 138,650 shares of company stock worth $57,774,089 in the last three months. 1.75% of the stock is owned by corporate insiders.
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BlackRock Company Profile
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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