Cordatus Wealth Management LLC purchased a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 926 shares of the asset manager’s stock, valued at approximately $364,000.
Several other large investors have also made changes to their positions in BLK. Capital World Investors increased its holdings in BlackRock by 1.8% during the third quarter. Capital World Investors now owns 8,353,670 shares of the asset manager’s stock valued at $3,937,335,000 after buying an additional 148,805 shares during the period. Rehmann Capital Advisory Group increased its holdings in BlackRock by 51,763.3% during the third quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock valued at $2,300,000 after buying an additional 1,082,370 shares during the period. Capital International Investors purchased a new position in BlackRock during the third quarter valued at approximately $477,939,000. Franklin Resources Inc. boosted its stake in BlackRock by 0.5% in the third quarter. Franklin Resources Inc. now owns 741,134 shares of the asset manager’s stock valued at $349,319,000 after acquiring an additional 3,976 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in BlackRock by 1.2% in the third quarter. Legal & General Group Plc now owns 539,703 shares of the asset manager’s stock valued at $254,385,000 after acquiring an additional 6,523 shares in the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.
BLK stock opened at $417.07 on Tuesday. The stock has a market cap of $64.94 billion, a PE ratio of 15.49, a P/E/G ratio of 1.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $578.80.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.35 by ($0.27). BlackRock had a net margin of 30.32% and a return on equity of 13.53%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company posted $6.24 EPS. The firm’s revenue was down 8.8% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock, Inc. will post 25.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.16%. This is a positive change from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date of this dividend is Tuesday, March 5th. BlackRock’s payout ratio is presently 46.49%.
In other news, CEO Laurence Fink sold 25,102 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 2,100 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $419.11, for a total transaction of $880,131.00. The disclosure for this sale can be found here. Insiders sold a total of 86,929 shares of company stock worth $36,214,650 over the last quarter. 1.75% of the stock is currently owned by company insiders.
Several research firms have recently commented on BLK. Goldman Sachs Group downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, October 17th. Citigroup lowered their price objective on shares of BlackRock to $500.00 and set a “buy” rating for the company in a research note on Wednesday, October 17th. Wells Fargo & Co restated a “hold” rating and set a $440.00 target price (down from $510.00) on shares of BlackRock in a research report on Tuesday, October 16th. Credit Suisse Group decreased their target price on shares of BlackRock from $573.00 to $529.00 and set an “outperform” rating for the company in a research report on Monday, January 14th. Finally, Morgan Stanley decreased their target price on shares of BlackRock from $514.00 to $489.00 and set an “overweight” rating for the company in a research report on Friday, January 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $503.03.
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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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