Howe & Rusling Inc. cut its stake in BlackRock, Inc. (NYSE:BLK) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,879 shares of the asset manager’s stock after selling 296 shares during the period. Howe & Rusling Inc.’s holdings in BlackRock were worth $2,309,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Shine Investment Advisory Services Inc. boosted its holdings in shares of BlackRock by 18.1% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 176 shares of the asset manager’s stock valued at $69,000 after purchasing an additional 27 shares during the last quarter. IMS Capital Management raised its stake in shares of BlackRock by 0.8% in the 3rd quarter. IMS Capital Management now owns 3,510 shares of the asset manager’s stock valued at $1,654,000 after acquiring an additional 28 shares during the period. Security Asset Management raised its stake in shares of BlackRock by 0.4% in the 4th quarter. Security Asset Management now owns 7,538 shares of the asset manager’s stock valued at $2,961,000 after acquiring an additional 30 shares during the period. Dynamic Advisor Solutions LLC raised its stake in shares of BlackRock by 1.1% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,139 shares of the asset manager’s stock valued at $1,287,000 after acquiring an additional 35 shares during the period. Finally, Fulton Bank N.A. raised its stake in shares of BlackRock by 7.0% in the 4th quarter. Fulton Bank N.A. now owns 551 shares of the asset manager’s stock valued at $216,000 after acquiring an additional 36 shares during the period. 86.05% of the stock is owned by institutional investors.
In other news, Director Jeff A. Smith sold 2,250 shares of BlackRock stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $415.78, for a total value of $935,505.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gary Shedlin sold 1,000 shares of BlackRock stock in a transaction dated Tuesday, January 29th. The shares were sold at an average price of $410.00, for a total transaction of $410,000.00. The disclosure for this sale can be found here. Insiders sold a total of 86,929 shares of company stock valued at $36,214,650 in the last three months. Insiders own 1.75% of the company’s stock.
BLK opened at $412.70 on Tuesday. The stock has a market capitalization of $64.94 billion, a PE ratio of 15.32, a P/E/G ratio of 1.57 and a beta of 1.37. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $578.80. 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 (NYSE:BLK) last released its earnings results on Wednesday, January 16th. The asset manager reported $6.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $6.35 by ($0.27). The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.47 billion. BlackRock had a return on equity of 13.53% and a net margin of 30.32%. BlackRock’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $6.24 EPS. On average, equities analysts expect that BlackRock, Inc. will post 25.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th will be given a $3.30 dividend. The ex-dividend date is Tuesday, March 5th. This represents a $13.20 annualized dividend and a dividend yield of 3.20%. This is an increase from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s payout ratio is presently 46.49%.
A number of equities analysts have recently commented on the stock. Bank of America reissued a “buy” rating and issued a $478.00 target price (down previously from $525.00) on shares of BlackRock in a research note on Thursday, December 6th. Morgan Stanley set a $515.00 price target on shares of BlackRock and gave the stock a “buy” rating in a research note on Friday. Argus dropped their price target on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating on the stock in a research note on Wednesday, October 17th. Wells Fargo & Co reaffirmed a “hold” rating and set a $440.00 price target (down previously from $510.00) on shares of BlackRock in a research note on Tuesday, October 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $472.00 price target on shares of BlackRock in a research note on Wednesday, January 9th. One equities 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. BlackRock presently has a consensus rating of “Buy” and an average price target 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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