Berkshire Asset Management LLC PA cut its holdings in BlackRock, Inc. (NYSE:BLK) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 749 shares of the asset manager’s stock after selling 52 shares during the period. Berkshire Asset Management LLC PA’s holdings in BlackRock were worth $294,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Highwater Wealth Management LLC purchased a new stake in shares of BlackRock during the 4th quarter valued at $41,000. Legacy Financial Advisors Inc. grew its stake in shares of BlackRock by 125.6% during the 4th quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock valued at $35,000 after buying an additional 49 shares during the period. Clean Yield Group purchased a new stake in shares of BlackRock during the 4th quarter valued at $59,000. Shine Investment Advisory Services Inc. grew its stake in shares of BlackRock by 18.1% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 176 shares of the asset manager’s stock valued at $69,000 after buying an additional 27 shares during the period. Finally, Moody National Bank Trust Division grew its stake in shares of BlackRock by 73.9% during the 4th quarter. Moody National Bank Trust Division now owns 200 shares of the asset manager’s stock valued at $78,000 after buying an additional 85 shares during the period. Institutional investors own 86.05% of the company’s stock.
A number of brokerages recently weighed in on BLK. Morgan Stanley set a $515.00 price target on shares of BlackRock and gave the stock a “buy” rating in a research report on Friday, February 8th. Jefferies Financial Group raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price target for the company in a research report on Tuesday, January 29th. Credit Suisse Group reaffirmed a “buy” rating and set a $532.00 price target on shares of BlackRock in a research report on Thursday, January 17th. Argus reaffirmed a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Finally, Wells Fargo & Co reaffirmed a “hold” rating and set a $425.00 price target (up from $410.00) on shares of BlackRock in a research report on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $503.03.
BLK stock traded up $8.57 during trading on Friday, reaching $431.95. The stock had a trading volume of 600,202 shares, compared to its average volume of 709,297. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $578.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.07 and a quick ratio of 3.07. The firm has a market capitalization of $68.12 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.62 and a beta of 1.37.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing analysts’ consensus estimates of $6.35 by ($0.27). BlackRock had a return on equity of 13.53% and a net margin of 30.32%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the firm earned $6.24 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts anticipate that BlackRock, Inc. will post 26 EPS for the current year.
The company also recently disclosed 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. The ex-dividend date is Tuesday, March 5th. This represents a $13.20 dividend on an annualized basis and a yield of 3.06%. This is a positive change from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s payout ratio is currently 46.49%.
In other news, CEO Laurence Fink sold 25,102 shares of the company’s stock in a transaction dated 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 accessible through the SEC website. Also, insider Marc D. Comerchero sold 600 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $432.22, for a total transaction of $259,332.00. The disclosure for this sale can be found here. Insiders sold a total of 135,617 shares of company stock worth $56,380,301 in the last quarter. 1.75% of the stock is currently owned by company insiders.
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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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