500 Shares in BlackRock, Inc. (NYSE:BLK) Acquired by Morse Asset Management Inc

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 …

BlackRock logoMorse 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.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://ledgergazette.com/2018/02/22/morse-asset-management-inc-invests-257000-in-blackrock-inc-blk.html.

About BlackRock

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.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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Eclipse Resources Corporation (ECR) Analysts See $-0.01 EPS

Kohlberg Kravis Roberts And L P holds 0.32% or 11.05 million shares. Analysts expect Eclipse Resources Corporation (NYSE:ECR) to report $-0.01 EPS on February, 28 after the close.They anticipate $0.01 EPS change or 50.00 % from last quarter’s $-0.02 EPS. After having $-0.03 EPS previously, …

February 22, 2018 – By Dolores Ford

 Eclipse Resources Corporation (ECR) Analysts See $ 0.01 EPS
Investors sentiment decreased to 1.2 in 2017 Q3. Its down 0.02, from 1.22 in 2017Q2. It turned negative, as 12 investors sold Eclipse Resources Corporation shares while 23 reduced holdings. 13 funds opened positions while 29 raised stakes. 60.52 million shares or 4.79% less from 63.57 million shares in 2017Q2 were reported.

Tiaa Cref Investment Management accumulated 661,772 shares. Hbk Limited Partnership owns 11,600 shares for 0% of their portfolio. Aqr Cap Management Limited reported 53,245 shares. Nationwide Fund Advisors reported 527,480 shares. Two Sigma Secs Limited Liability has invested 0.01% in Eclipse Resources Corporation (NYSE:ECR). Sg Americas Securities Limited Liability Corp owns 21,369 shares. Alliancebernstein Limited Partnership invested 0% in Eclipse Resources Corporation (NYSE:ECR). Swiss Bank accumulated 146,200 shares or 0% of the stock. Ameritas Inv Prtnrs holds 0% or 4,808 shares in its portfolio. Blackrock Inc has 9.00 million shares for 0% of their portfolio. Invesco Limited accumulated 0% or 158,973 shares. Blackstone Group Inc L P holds 3.41 million shares. Tower Capital (Trc) holds 0% or 3,900 shares. Deutsche Fincl Bank Ag holds 93,826 shares. Kohlberg Kravis Roberts And L P holds 0.32% or 11.05 million shares.

Analysts expect Eclipse Resources Corporation (NYSE:ECR) to report $-0.01 EPS on February, 28 after the close.They anticipate $0.01 EPS change or 50.00 % from last quarter’s $-0.02 EPS. After having $-0.03 EPS previously, Eclipse Resources Corporation’s analysts see -66.67 % EPS growth. The stock increased 0.61% or $0.01 during the last trading session, reaching $1.66. About 628,645 shares traded. Eclipse Resources Corporation (NYSE:ECR) has declined 1.59% since February 22, 2017 and is downtrending. It has underperformed by 18.29% the S&P500.

Eclipse Resources Corporation (NYSE:ECR) Ratings Coverage

Among 20 analysts covering Eclipse Resources (NYSE:ECR), 11 have Buy rating, 1 Sell and 8 Hold. Therefore 55% are positive. Eclipse Resources had 56 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of Eclipse Resources Corporation (NYSE:ECR) earned “Buy” rating by RBC Capital Markets on Monday, August 7. As per Wednesday, January 13, the company rating was downgraded by Seaport Global. Topeka Capital Markets maintained it with “Buy” rating and $5 target in Monday, October 12 report. KeyBanc Capital Markets maintained Eclipse Resources Corporation (NYSE:ECR) rating on Monday, November 20. KeyBanc Capital Markets has “Buy” rating and $3.25 target. Seaport Global downgraded Eclipse Resources Corporation (NYSE:ECR) on Wednesday, June 21 to “Neutral” rating. The firm earned “Buy” rating on Monday, February 6 by Seaport Global Securities. The firm has “Hold” rating given on Tuesday, August 4 by Deutsche Bank. The firm earned “Buy” rating on Friday, June 2 by RBC Capital Markets. As per Tuesday, October 10, the company rating was maintained by BMO Capital Markets. As per Wednesday, June 21, the company rating was maintained by BMO Capital Markets.

Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company has market cap of $498.94 million. The firm owns interests in the Utica Shale and Marcellus Shale areas. It currently has negative earnings. As of December 31, 2016, it had an acreage position approximating 199,000 net acres in Eastern Ohio.

More recent Eclipse Resources Corporation (NYSE:ECR) news were published by: Businesswire.com which released: “Eclipse Resources Reports Proved Reserves, Operational and Financial Update” on January 31, 2018. Also Businesswire.com published the news titled: “Eclipse Resources Corporation Announces Agreements to Acquire New Utica …” on December 11, 2017. Businesswire.com‘s news article titled: “Eclipse Resources Corporation Schedules Fourth Quarter and Full Year 2017 …” with publication date: February 13, 2018 was also an interesting one.

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Juniper Networks, Inc. (JNPR) VP Sells $222586.23 in Stock

Juniper Networks logo Juniper Networks, Inc. (NYSE:JNPR) VP Terrance F. Spidell sold 8,409 shares of Juniper Networks stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $26.47, for a total transaction of $222,586.23. The transaction was …

Juniper Networks logoJuniper Networks, Inc. (NYSE:JNPR) VP Terrance F. Spidell sold 8,409 shares of Juniper Networks stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $26.47, for a total transaction of $222,586.23. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of Juniper Networks, Inc. (NYSE:JNPR) traded down $0.34 during trading on Wednesday, hitting $25.89. 4,678,496 shares of the stock traded hands, compared to its average volume of 4,569,286. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.41 and a quick ratio of 2.70. Juniper Networks, Inc. has a 1 year low of $23.87 and a 1 year high of $30.96. The company has a market capitalization of $9,879.36, a PE ratio of 31.96, a price-to-earnings-growth ratio of 3.06 and a beta of 0.89.

Juniper Networks (NYSE:JNPR) last released its quarterly earnings results on Tuesday, January 30th. The network equipment provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Juniper Networks had a net margin of 6.26% and a return on equity of 13.34%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. analysts forecast that Juniper Networks, Inc. will post 1.34 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 1st will be issued a $0.18 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.72 annualized dividend and a yield of 2.78%. This is a boost from Juniper Networks’s previous quarterly dividend of $0.10. Juniper Networks’s payout ratio is 49.38%.

Juniper Networks announced that its board has authorized a stock repurchase plan on Tuesday, January 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Several research firms have commented on JNPR. Robert W. Baird reissued a “hold” rating and set a $26.00 price target on shares of Juniper Networks in a research note on Wednesday, January 31st. Loop Capital decreased their price target on shares of Juniper Networks to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. Piper Jaffray Companies reissued a “neutral” rating and set a $27.00 price target on shares of Juniper Networks in a research note on Wednesday, January 10th. Nomura decreased their price target on shares of Juniper Networks from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. Finally, Stifel Nicolaus decreased their price target on shares of Juniper Networks from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, January 31st. Five analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the stock. Juniper Networks currently has an average rating of “Hold” and a consensus price target of $28.61.

Large investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. bought a new stake in Juniper Networks in the third quarter valued at $111,000. Cerebellum GP LLC bought a new stake in Juniper Networks in the fourth quarter valued at $128,000. Exane Derivatives boosted its holdings in Juniper Networks by 278.1% in the fourth quarter. Exane Derivatives now owns 5,633 shares of the network equipment provider’s stock valued at $161,000 after acquiring an additional 4,143 shares in the last quarter. Balter Liquid Alternatives LLC bought a new stake in Juniper Networks in the fourth quarter valued at $163,000. Finally, Stevens First Principles Investment Advisors boosted its holdings in Juniper Networks by 40.9% in the third quarter. Stevens First Principles Investment Advisors now owns 7,045 shares of the network equipment provider’s stock valued at $196,000 after acquiring an additional 2,045 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Juniper Networks, Inc. (JNPR) VP Sells $222,586.23 in Stock” was first published by Week Herald and is owned by of Week Herald. If you are reading this story on another website, it was illegally stolen and reposted in violation of US and international copyright legislation. The correct version of this story can be accessed at https://weekherald.com/2018/02/21/juniper-networks-inc-jnpr-vp-sells-222586-23-in-stock.html.

About Juniper Networks

Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, the Middle East and Africa, and Asia Pacific.

Insider Buying and Selling by Quarter for Juniper Networks (NYSE:JNPR)

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Why The Market Is Not Cheering Qualcomm’s Acquisition Of NXP

After many months and speculation, Qualcomm (QCOM) will finally buy NXP Semiconductors (NXPI). QCOM announced it signed a “Definitive Agreement with NXP,” increasing its tender offer to $127.50 per share in cash, and said it has binding agreements with nine major NXP stockholders who own …

After many months and speculation, Qualcomm (QCOM) will finally buy NXP Semiconductors (NXPI). QCOM announced it signed a “Definitive Agreement with NXP,” increasing its tender offer to $127.50 per share in cash, and said it has binding agreements with nine major NXP stockholders who own more than 28% of outstanding shares. In total, the deal will cost QCOM $44B in cash.

It has been my opinion ever since this deal was announced that it is not in the best interest of QCOM shareholders. Not only because CQOM is paying a very big premium, but also because this deal changes QCOM as a company at the molecular level.

Qualcomm will go from a cash rich company to a debt slave

If we look at QCOM’s latest balance sheet, the company has $33.36B in cash and equivalents and $2B in marketable securities. It also lists $4.4B in marketable securities under non-current assets. In total, it has about $40B cash and securities on hand that can be used for the NXP purchase. So assuming the company will use all the above liquidity, it will need to borrow at least $4B to complete the deal.

On the liabilities side, QCOM has $12B of current liabilities and $19.4B in long-term debt. So while it will only need an additional $4B to purchase NXP, it has to keep some cash on hand, because it cannot drain the company of all its liquidity. It needs to operate the business.

So I’m modeling that QCOM will borrow at least another $10B in total to be able to do this deal. So after this deal is concluded, QCOM will probably be in debt to the tune of at least $34B.

Now let’s look at NXP’s balance latest balance sheet. The company has $3.5B in cash and equivalents, and on the liability side it has $5.8B in long-term debt.

I assume the current asset liquidity will remain intact because the company needs this money to run the business. However on a consolidated basis, the $5.8B in debt will be on QCOM’s balance sheet.

So when QCOM buys NXP, I’am modeling that the consolidated balance sheet will have at least $40B in debt (I think more but I’m being conservative).

Now let’s try to guess what the repercussions of all this debt might be.

1) The $40B in debt needs to be serviced, and that will absorb liquidity for many years. How much might this debt cost QCOM? If we assume this debt costs a conservative 3.5% in interest to service, it might cost QCOM about $1.5B for starters.

2) Will the company continue to pay the same dividend?

QCOM paid $2.28 per share in dividends, about $3.3B over the past 12 months. It did so because it had both plenty of cash to do so, and it also earned licensing income during 2017.

While in theory the combined company will make enough money to pay the same dividend, my hunch is that management will either depress it or stop paying dividends altogether for the first several years.

In addition, the company repurchased 3.7M shares worth $225M for the quarter. I think it’s fair to say repurchases will be terminated also. Reason being, QCOM might not make enough money in the future.

Source

Please take a look at the above table. For fiscal 2017, earnings from QTL revenue were two-thirds of QCOM’s total earnings. Yes, the company did $16.6B in revenue from selling chips, however in the end, the money it made barley cover the dividend it paid. QCOM’s bread and butter is licensing revenue. Strip that out of the equation, and you have a different company.

The battle with Apple is not over

The company did not record any QTL revenue from Apple (AAPL) and several other companies for fiscal Q1’18 and Q4’17.

It is my opinion folks that QCOM will not win the battle with AAPL. Not only that, but when the US Federal Trade Commission officially opens the QCOM case, then I think it will come down very hard on the company. The FTC has enough evidence (here) not only to condemn QCOM, but also to force it to change its licensing structure (yes it can do that).

And not only does the FTC have plenty of evidence to condemn QCOM, it also has precedents from three other regulators around the world that have already reprimanded the company to the tune of several billion dollars to date.

– 1.2B European commission

– $868M Korea Fair Trade Commission

– $778M Taiwan Fair Trade Commission

And if you think the fines paid by QCOM to regulators around the world were bad, wait until you see what the FTC’s bill will be (yes it will be that bad – my opinion).

So in light of the above, paying $44B for a company that barley does $10B in revenue, and has a 22X multiple, just because its automotive chips registered 11% increase in sales Y/Y (yes that was one of the reason given) does not cut it.

ChartNXPI Revenue (TTM) data by YCharts

QCOM should have waited before buying NXP. At the very least it should have waited to see how the dispute with AAPL turns out, and what will happen with the FTC complaint. And while we already know AAPL will eventually change vendors and use modem chips from Intel (INTC), wee have no idea what will happen with the FTC.

But don’t take my word, look at what the market is saying

Before the Broadcom (AVGO) deal, QCOM shares were trading around $50, having dropped a lot in 2017. Now the scope of this article is not to tell you why the deal with AVGO will not be done (I might write an article on the topic). However it seems from the price action in QCOM shares that the market thinks it will not happen. As I write these words, QCOM shares are still falling.

But even more important than the recent price action, why is the market so bearish on QCOM shares, given the guidance of QCOM’s management?

We remain highly confident in our fiscal 2019 Non-GAAP EPStarget of $6.75-$7.50, which includes $1.50 per share accretion from the acquisition of NXP

source

If QCOM makes $7 EPS in 2019, shouldn’t the market be more bullish on QCOM shares, even without the AVGO bid? I think it should. But it is not. My explanation is that the market is very hesitant given how leveraged the company will be going forward, losing AAPL as a customer, and the outcome of the FTC complaint. Also, buying NXP will not make up for all of the above.

Bottom line

In theory at least, the market should be cheering QCOM’s acquisition of NXP, especially given management’s guidance, but it is not.

QCOM will be a very leveraged company after this deal is done. And there will be many questions pertaining to its dividend and share repurchases.

In addition, the company will probably lose AAPL as a customer, and still has the FTC complaint to confront.

While I would not short QCOM at this time, I do not think shares are investable yet, at least before the outcome of the FTC complaint.

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PGGM Investments Has $49.73 Million Stake in BlackRock, Inc. (NYSE:BLK)

BlackRock logo PGGM Investments lowered its position in BlackRock, Inc. (NYSE:BLK) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,800 shares of the asset manager’s stock after selling …

BlackRock logoPGGM Investments lowered its position in BlackRock, Inc. (NYSE:BLK) by 20.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,800 shares of the asset manager’s stock after selling 24,373 shares during the period. PGGM Investments owned approximately 0.06% of BlackRock worth $49,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors raised its stake in BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after buying an additional 810,667 shares in the last quarter. Third Point LLC bought a new position in BlackRock in the second quarter worth approximately $654,736,000. The Manufacturers Life Insurance Company raised its stake in BlackRock by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 652,317 shares of the asset manager’s stock worth $275,544,000 after buying an additional 18,054 shares in the last quarter. Legal & General Group Plc grew its holdings in BlackRock by 2.3% in the third quarter. Legal & General Group Plc now owns 608,209 shares of the asset manager’s stock worth $271,924,000 after purchasing an additional 13,939 shares during the last quarter. Finally, TD Asset Management Inc. grew its holdings in BlackRock by 1.4% in the third quarter. TD Asset Management Inc. now owns 449,827 shares of the asset manager’s stock worth $201,113,000 after purchasing an additional 6,394 shares during the last quarter. 82.37% of the stock is owned by institutional investors and hedge funds.

BlackRock, Inc. (NYSE BLK) traded up $0.96 on Wednesday, hitting $543.56. 486,211 shares of the company traded hands, compared to its average volume of 752,019. BlackRock, Inc. has a 52-week low of $368.00 and a 52-week high of $594.52. The firm has a market cap of $87,150.00, a P/E ratio of 23.66, a PEG ratio of 1.45 and a beta of 1.75. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89.

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. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the company earned $5.14 EPS. BlackRock’s revenue was up 20.0% compared to the same quarter last year. sell-side analysts expect that BlackRock, Inc. will post 28.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be paid a dividend of $2.88 per share. This represents a $11.52 annualized dividend and a yield of 2.12%. The ex-dividend date is Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is currently 43.54%.

Several research firms have issued reports on BLK. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target on the stock in a report on Thursday, January 11th. Argus reissued a “buy” rating and set a $620.00 price objective (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Wells Fargo & Co reissued a “market perform” rating and set a $555.00 price objective (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Citigroup lowered shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price objective on the stock. in a report on Thursday, January 25th. Finally, Credit Suisse Group restated a “buy” rating and set a $680.00 target price 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 assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $547.92.

In other news, insider Jeff A. Smith sold 425 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total value of $240,533.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Wagner sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the sale, the director now directly owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,311 shares of company stock valued at $9,172,667. 1.86% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: “PGGM Investments Has $49.73 Million Stake in BlackRock, Inc. (NYSE:BLK)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US and international copyright and trademark laws. The original version of this piece of content can be read at https://ledgergazette.com/2018/02/22/blackrock-inc-blk-shares-sold-by-pggm-investments.html.

BlackRock Company Profile

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.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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