Dodge & Cox bought a new stake in BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 750 shares of the asset manager’s stock, valued at approximately $353,000.
A number of other institutional investors have also recently bought and sold shares of BLK. Capital World Investors lifted its position in BlackRock by 1.8% during the third quarter. Capital World Investors now owns 8,353,670 shares of the asset manager’s stock worth $3,937,335,000 after buying an additional 148,805 shares during the period. Rehmann Capital Advisory Group lifted its position 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 worth $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 worth about $477,939,000. Franklin Resources Inc. lifted its position in BlackRock by 0.5% during the third quarter. Franklin Resources Inc. now owns 741,134 shares of the asset manager’s stock worth $349,319,000 after buying an additional 3,976 shares during the period. Finally, Legal & General Group Plc lifted its position in BlackRock by 1.2% during the third quarter. Legal & General Group Plc now owns 539,703 shares of the asset manager’s stock worth $254,385,000 after buying an additional 6,523 shares during the period. 82.43% of the stock is currently owned by institutional investors.
In related news, Director William E. Ford purchased 2,000 shares of the stock in a transaction dated Wednesday, October 17th. The stock was bought at an average cost of $409.59 per share, for a total transaction of $819,180.00. Following the completion of the acquisition, the director now owns 7,466 shares of the company’s stock, valued at $3,057,998.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director J. Richard Kushel sold 2,100 shares of the stock in a transaction that occurred on Monday, November 26th. The shares were 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 own 1.75% of the company’s stock.
BLK has been the topic of several research analyst reports. ValuEngine upgraded BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $541.00 to $592.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Bank of America reaffirmed a “buy” rating and issued a $478.00 price objective (down from $525.00) on shares of BlackRock in a research note on Thursday, December 6th. Deutsche Bank raised their price objective on BlackRock from $549.00 to $559.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Finally, Citigroup cut their price target on shares of BlackRock from $500.00 to $450.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. BlackRock has a consensus rating of “Buy” and a consensus price target of $513.08.
BLK traded down $1.59 during trading on Friday, hitting $397.91. 697,158 shares of the stock traded hands, compared to its average volume of 692,232. The stock has a market capitalization of $63.11 billion, a P/E ratio of 17.61, a PEG ratio of 1.39 and a beta of 1.43. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.76. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $594.52.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.93 by $0.59. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the firm posted $5.76 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. Sell-side analysts expect that BlackRock, Inc. will post 27.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 26th. Investors of record on Friday, December 7th were paid a $3.13 dividend. This represents a $12.52 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, December 6th. BlackRock’s dividend payout ratio (DPR) is presently 55.40%.
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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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