Raymond James Trust N.A. grew its stake in BlackRock, Inc. (NYSE:BLK) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,545 shares of the asset manager’s stock after purchasing an additional 423 shares during the period. BlackRock comprises approximately 0.8% of Raymond James Trust N.A.’s investment portfolio, making the stock its 28th largest position. Raymond James Trust N.A.’s holdings in BlackRock were worth $19,875,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of BLK. Principal Financial Group Inc. boosted its stake in shares of BlackRock by 27.3% in the 2nd quarter. Principal Financial Group Inc. now owns 690,699 shares of the asset manager’s stock valued at $375,803,000 after purchasing an additional 148,192 shares in the last quarter. FMR LLC increased its stake in BlackRock by 182.3% in the second quarter. FMR LLC now owns 3,699,444 shares of the asset manager’s stock valued at $2,012,831,000 after purchasing an additional 2,388,836 shares during the last quarter. Verition Fund Management LLC purchased a new position in BlackRock in the second quarter valued at approximately $275,000. Cubist Systematic Strategies LLC purchased a new position in BlackRock in the second quarter valued at approximately $3,129,000. Finally, Engineers Gate Manager LP purchased a new position in BlackRock in the second quarter valued at approximately $326,000. Institutional investors own 79.10% of the company’s stock.
In other BlackRock news, Director Mark Wiedman sold 290 shares of the firm’s stock in a transaction on Wednesday, November 25th. The stock was sold at an average price of $698.71, for a total value of $202,625.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christopher J. Meade sold 699 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $669.79, for a total value of $468,183.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,018 shares of company stock valued at $3,209,898. Corporate insiders own 1.42% of the company’s stock.
Shares of NYSE BLK traded up $2.01 during mid-day trading on Wednesday, hitting $779.75. 834,733 shares of the company were exchanged, compared to its average volume of 650,061. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $714.60 and a 200-day simple moving average of $623.74. BlackRock, Inc. has a 1-year low of $323.98 and a 1-year high of $788.00. The firm has a market cap of $118.92 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Sunday, October 18th. The asset manager reported $9.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $7.45 by $1.77. BlackRock had a return on equity of 14.91% and a net margin of 29.83%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $3.89 billion. During the same period last year, the company earned $7.15 earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts anticipate that BlackRock, Inc. will post 32.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 21st. Investors of record on Friday, December 4th were issued a dividend of $3.63 per share. This represents a $14.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, December 3rd. BlackRock’s dividend payout ratio is presently 50.98%.
Several equities analysts have commented on BLK shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $795.00 to $802.00 and gave the company a “buy” rating in a research note on Friday, December 18th. BMO Capital Markets raised their target price on shares of BlackRock from $594.00 to $602.00 and gave the stock a “market perform” rating in a research report on Thursday, October 15th. They noted that the move was a valuation call. Citigroup raised their target price on shares of BlackRock from $690.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 14th. Barclays raised their target price on shares of BlackRock from $625.00 to $700.00 in a research report on Wednesday, October 14th. Finally, Wells Fargo & Company raised their target price on shares of BlackRock from $700.00 to $805.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $684.17.
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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