Burns J W & Co. Inc. NY boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 969 shares of the asset manager’s stock after acquiring an additional 25 shares during the period. Burns J W & Co. Inc. NY’s holdings in BlackRock were worth $813,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of BLK. Commerce Bank grew its stake in BlackRock by 0.8% in the 2nd quarter. Commerce Bank now owns 57,178 shares of the asset manager’s stock worth $50,029,000 after buying an additional 475 shares in the last quarter. US Bancorp DE grew its stake in BlackRock by 2.0% in the 2nd quarter. US Bancorp DE now owns 154,443 shares of the asset manager’s stock worth $135,133,000 after buying an additional 2,980 shares in the last quarter. AGF Investments Inc. grew its stake in BlackRock by 3.6% in the 2nd quarter. AGF Investments Inc. now owns 2,535 shares of the asset manager’s stock worth $2,218,000 after buying an additional 88 shares in the last quarter. Lido Advisors LLC grew its stake in BlackRock by 23.8% in the 2nd quarter. Lido Advisors LLC now owns 2,818 shares of the asset manager’s stock worth $2,466,000 after buying an additional 541 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in BlackRock in the 2nd quarter worth approximately $35,874,000. 77.75% of the stock is owned by institutional investors.
A number of research firms have commented on BLK. Citigroup boosted their price target on shares of BlackRock from $1,030.00 to $1,035.00 and gave the stock a “buy” rating in a research note on Thursday, October 14th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,021.00 to $1,026.00 and gave the stock an “overweight” rating in a report on Thursday, October 14th. Bank of America initiated coverage on shares of BlackRock in a report on Wednesday, November 3rd. They issued a “buy” rating and a $1,080.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating for the company in a report on Thursday, October 14th. Finally, Evercore ISI restated a “buy” rating and issued a $956.00 price objective on shares of BlackRock in a report on Thursday, October 14th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $961.40.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 13th. The asset manager reported $10.95 EPS for the quarter, beating the Zacks’ consensus estimate of $9.81 by $1.14. BlackRock had a net margin of 30.97% and a return on equity of 16.72%. The company had revenue of $5.05 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the business posted $9.22 EPS. The firm’s revenue was up 15.6% compared to the same quarter last year. As a group, analysts anticipate that BlackRock, Inc. will post 38.92 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 23rd. Investors of record on Tuesday, December 7th will be issued a dividend of $4.13 per share. The ex-dividend date of this dividend is Monday, December 6th. This represents a $16.52 dividend on an annualized basis and a yield of 1.77%. BlackRock’s dividend payout ratio is currently 43.94%.
In other news, Director J. Richard Kushel sold 405 shares of the company’s stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $964.45, for a total value of $390,602.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Laurence Fink sold 22,247 shares of the company’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $925.68, for a total transaction of $20,593,602.96. The disclosure for this sale can be found here. 1.16% of the stock is currently owned by corporate insiders.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
Featured Story: What are the risks of holding treasury bonds?
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.