Cornerstone Wealth Management LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, Holdings Channel reports. The firm bought 400 shares of the asset manager’s stock, valued at approximately $212,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alexandria Capital LLC increased its holdings in BlackRock by 3,456.3% in the 4th quarter. Alexandria Capital LLC now owns 1,138 shares of the asset manager’s stock worth $584,000 after acquiring an additional 1,106 shares in the last quarter. Timber Hill LLC purchased a new stake in BlackRock in the 4th quarter worth $332,000. Baird Financial Group Inc. increased its holdings in BlackRock by 4.9% in the 4th quarter. Baird Financial Group Inc. now owns 72,374 shares of the asset manager’s stock worth $37,180,000 after acquiring an additional 3,399 shares in the last quarter. Norinchukin Bank The increased its holdings in BlackRock by 12.2% in the 4th quarter. Norinchukin Bank The now owns 6,189 shares of the asset manager’s stock worth $3,179,000 after acquiring an additional 672 shares in the last quarter. Finally, FDx Advisors Inc. increased its holdings in BlackRock by 1.5% in the 4th quarter. FDx Advisors Inc. now owns 18,611 shares of the asset manager’s stock worth $9,561,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 82.37% of the company’s stock.
In other news, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the sale, the director now owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 650 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $544.55, for a total transaction of $353,957.50. The disclosure for this sale can be found here. Insiders have sold 19,961 shares of company stock valued at $10,609,844 in the last ninety days. Insiders own 1.86% of the company’s stock.
Several equities research analysts recently commented on the stock. Citigroup lowered shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target for the company. in a report on Thursday, January 25th. Wells Fargo & Co reissued a “market perform” rating and issued a $555.00 price target (up previously from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Argus reissued a “buy” rating and issued a $620.00 price target (up previously from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Jefferies Group boosted their price target on shares of BlackRock to $565.00 and gave the stock a “hold” rating in a report on Monday, January 15th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $680.00 price target on shares of BlackRock in a report on Friday, January 12th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $547.92.
Shares of BlackRock, Inc. (NYSE:BLK) opened at $549.75 on Friday. BlackRock, Inc. has a 1-year low of $368.00 and a 1-year high of $594.52. The stock has a market cap of $86,889.16, a price-to-earnings ratio of 18.14, a PEG ratio of 1.45 and a beta of 1.76. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the firm earned $5.14 earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. equities research analysts forecast that BlackRock, Inc. will post 28.5 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.10%. BlackRock’s dividend payout ratio is presently 33.00%.
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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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