ProVise Management Group LLC lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 2.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,866 shares of the asset manager’s stock after buying an additional 391 shares during the quarter. BlackRock makes up 1.2% of ProVise Management Group LLC’s portfolio, making the stock its 19th biggest position. ProVise Management Group LLC’s holdings in BlackRock were worth $8,436,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of BLK. Salem Investment Counselors Inc. lifted its position in shares of BlackRock by 14.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after buying an additional 30 shares during the last quarter. Proficio Capital Partners LLC lifted its position in BlackRock by 48.9% in the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 85 shares during the last quarter. Enterprise Financial Services Corp lifted its position in BlackRock by 52.5% in the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock valued at $104,000 after purchasing an additional 85 shares during the last quarter. Penserra Capital Management LLC bought a new stake in BlackRock in the 2nd quarter valued at about $104,000. Finally, Harfst & Associates Inc. lifted its position in BlackRock by 17.3% in the 2nd quarter. Harfst & Associates Inc. now owns 265 shares of the asset manager’s stock valued at $111,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 82.13% of the company’s stock.
In other news, insider Mark Mccombe sold 1,000 shares of BlackRock stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 100 shares of BlackRock stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total transaction of $48,158.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,875 shares of company stock worth $2,101,166. 1.86% of the stock is currently owned by insiders.
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Shares of BlackRock, Inc. (NYSE:BLK) traded up $0.78 on Tuesday, hitting $474.77. 392,200 shares of the stock traded hands, compared to its average volume of 528,879. The firm has a market cap of $76,000.00, a PE ratio of 22.00, a P/E/G ratio of 1.64 and a beta of 1.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock, Inc. has a 12 month low of $365.83 and a 12 month high of $489.79.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $5.14 earnings per share. equities research analysts forecast that BlackRock, Inc. will post 22.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be given a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s dividend payout ratio (DPR) is currently 46.82%.
Several analysts recently weighed in on the stock. Wells Fargo & Company reiterated a “market perform” rating and issued a $475.00 price objective (up from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. J P Morgan Chase & Co boosted their price target on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Jefferies Group LLC restated a “hold” rating and set a $465.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock has an average rating of “Buy” and a consensus price target of $489.08.
BlackRock Company Profile
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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