Morse Asset Management Inc purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 500 shares of the asset manager’s stock, valued at approximately $257,000.
A number of other institutional investors also recently modified their holdings of the stock. Keel Point LLC increased its holdings in shares of BlackRock by 0.6% during the 2nd quarter. Keel Point LLC now owns 802 shares of the asset manager’s stock worth $339,000 after buying an additional 5 shares during the last quarter. Bangor Savings Bank increased its holdings in BlackRock by 0.6% in the 2nd quarter. Bangor Savings Bank now owns 1,172 shares of the asset manager’s stock valued at $495,000 after purchasing an additional 7 shares during the last quarter. Zevenbergen Capital Investments LLC increased its holdings in BlackRock by 0.4% in the 2nd quarter. Zevenbergen Capital Investments LLC now owns 2,294 shares of the asset manager’s stock valued at $969,000 after purchasing an additional 10 shares during the last quarter. Veritable L.P. increased its holdings in BlackRock by 0.3% in the 2nd quarter. Veritable L.P. now owns 3,936 shares of the asset manager’s stock valued at $1,663,000 after purchasing an additional 11 shares during the last quarter. Finally, Logan Capital Management Inc. increased its holdings in BlackRock by 3.3% in the 2nd quarter. Logan Capital Management Inc. now owns 786 shares of the asset manager’s stock valued at $332,000 after purchasing an additional 25 shares during the last quarter. 82.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BlackRock, Inc. (NYSE:BLK) traded up $1.10 during midday trading on Wednesday, hitting $543.56. 486,257 shares of the company’s stock traded hands, compared to its average volume of 752,019. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $87,150.00, a P/E ratio of 23.66, a PEG ratio of 1.45 and a beta of 1.75. BlackRock, Inc. has a 12 month low of $368.00 and a 12 month high of $594.52.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.14 earnings per share. equities research analysts expect that BlackRock, Inc. will post 28.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th will be paid a dividend of $2.88 per share. The ex-dividend date is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a yield of 2.12%. This is an increase from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is currently 43.54%.
In related news, Director Ryan Stork sold 7,136 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $543.50, for a total transaction of $3,878,416.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff A. Smith sold 425 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total transaction of $240,533.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,311 shares of company stock worth $10,255,887. 1.86% of the stock is currently owned by insiders.
Several research firms have commented on BLK. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Argus reaffirmed a “buy” rating and set a $620.00 price objective (up from $520.00) on shares of BlackRock in a research report on Tuesday, January 16th. Citigroup cut shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price objective for the company. in a research report on Thursday, January 25th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $555.00 price objective (up from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $680.00 price target on shares of BlackRock in a research report on Friday, January 12th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $547.92.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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