Pacer Advisors Inc. boosted its stake in BlackRock, Inc. (NYSE:BLK) by 14.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,600 shares of the asset manager’s stock after buying an additional 816 shares during the period. Pacer Advisors Inc.’s holdings in BlackRock were worth $3,111,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. KDI Capital Partners LLC lifted its position in shares of BlackRock by 3.9% in the third quarter. KDI Capital Partners LLC now owns 7,368 shares of the asset manager’s stock worth $3,473,000 after purchasing an additional 275 shares in the last quarter. Capital World Investors lifted its position in shares of BlackRock by 1.8% in the third quarter. Capital World Investors now owns 8,353,670 shares of the asset manager’s stock worth $3,937,335,000 after purchasing an additional 148,805 shares in the last quarter. Capital International Investors purchased a new stake in shares of BlackRock in the third quarter worth approximately $477,939,000. Capital International Inc. CA purchased a new stake in shares of BlackRock in the third quarter worth approximately $1,275,000. Finally, LPL Financial LLC lifted its position in shares of BlackRock by 1.2% in the third quarter. LPL Financial LLC now owns 23,332 shares of the asset manager’s stock worth $10,997,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.
In other news, Director J. Richard Kushel sold 2,100 shares of BlackRock stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $419.11, for a total value of $880,131.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William E. Ford purchased 2,000 shares of the company’s stock in a transaction dated Monday, October 22nd. The stock was purchased at an average cost of $395.21 per share, for a total transaction of $790,420.00. Following the transaction, the director now owns 9,466 shares of the company’s stock, valued at $3,741,057.86. The disclosure for this purchase can be found here. 1.75% of the stock is currently owned by company insiders.
A number of analysts have recently issued reports on the stock. ValuEngine raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Morgan Stanley reduced their price target on shares of BlackRock from $554.00 to $514.00 and set an “overweight” rating for the company in a research report on Wednesday, November 14th. Deutsche Bank reduced their price target on shares of BlackRock from $458.00 to $444.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Bank of America reissued a “buy” rating and issued a $478.00 price target (down from $525.00) on shares of BlackRock in a research report on Thursday, December 6th. Finally, Argus reduced their price target on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a research report on Wednesday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $548.86.
Shares of BLK opened at $387.27 on Friday. The company has a market cap of $61.52 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.07 and a current ratio of 3.07. BlackRock, Inc. has a twelve month low of $376.31 and a twelve month high of $594.52.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, beating the consensus estimate of $6.93 by $0.59. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $5.76 earnings per share. Analysts predict that BlackRock, Inc. will post 27.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 7th will be given a dividend of $3.13 per share. This represents a $12.52 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, December 6th. BlackRock’s payout ratio is presently 55.40%.
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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