Neuberger Berman Group LLC Sells 2,825 Shares of BlackRock, Inc. (BLK)

Neuberger Berman Group LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 533,377 shares of the asset manager’s stock after selling 2,825 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.33% of BlackRock worth $238,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Griffin Asset Management Inc. acquired a new position in shares of BlackRock during the 3rd quarter valued at about $1,008,000. Piedmont Investment Advisors LLC boosted its position in shares of BlackRock by 1.0% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 26,832 shares of the asset manager’s stock valued at $11,996,000 after acquiring an additional 254 shares during the last quarter. California Public Employees Retirement System raised its holdings in BlackRock by 7.1% in the 3rd quarter. California Public Employees Retirement System now owns 298,462 shares of the asset manager’s stock valued at $133,439,000 after buying an additional 19,862 shares during the period. Janney Montgomery Scott LLC raised its holdings in BlackRock by 9.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,707 shares of the asset manager’s stock valued at $16,411,000 after buying an additional 3,217 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new stake in BlackRock in the 3rd quarter valued at about $550,000. 83.74% of the stock is currently owned by institutional investors.

In other BlackRock news, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 481,915 shares in the company, valued at $243,897,181.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 100 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $481.58, for a total transaction of $48,158.00. The disclosure for this sale can be found here. Insiders have sold 5,200 shares of company stock worth $2,599,302 over the last quarter. Insiders own 1.86% of the company’s stock.

Several analysts recently issued reports on BLK shares. BidaskClub lowered shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Barclays boosted their price objective on shares of BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. J P Morgan Chase & Co boosted their price objective on shares of BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Wells Fargo & Company restated a “market perform” rating and issued a $475.00 price objective (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Finally, Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a report on Tuesday, August 29th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and a consensus price target of $489.08.

Shares of BlackRock, Inc. (NYSE BLK) opened at $517.73 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. The stock has a market cap of $82,110.83, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.81. BlackRock, Inc. has a one year low of $365.83 and a one year high of $518.55.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.14 earnings per share. sell-side analysts anticipate that BlackRock, Inc. will post 22.34 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be paid a dividend of $2.50 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a yield of 1.93%. BlackRock’s dividend payout ratio (DPR) is presently 46.82%.

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BlackRock 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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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