Virtus Fund Advisers LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 21.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,585 shares of the asset manager’s stock after selling 30,486 shares during the period. Virtus Fund Advisers LLC’s holdings in BlackRock were worth $55,781,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invictus RG bought a new stake in BlackRock during the 3rd quarter worth approximately $110,000. Sumitomo Mitsui Financial Group Inc. grew its holdings in BlackRock by 1,119.2% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock valued at $141,000 after buying an additional 291 shares in the last quarter. Oakworth Capital Inc. grew its holdings in BlackRock by 67.6% during the 4th quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock valued at $153,000 after buying an additional 123 shares in the last quarter. Manchester Capital Management LLC purchased a new stake in BlackRock during the 3rd quarter valued at approximately $156,000. Finally, Penserra Capital Management LLC grew its holdings in BlackRock by 48.8% during the 3rd quarter. Penserra Capital Management LLC now owns 369 shares of the asset manager’s stock valued at $164,000 after buying an additional 121 shares in the last quarter. Institutional investors own 82.37% of the company’s stock.
In related news, Director Susan Wagner sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Deryck C. Maughan bought 3,861 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was acquired at an average cost of $573.44 per share, with a total value of $2,214,051.84. Following the completion of the acquisition, the director now owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The disclosure for this purchase can be found here. Over the last three months, insiders sold 10,175 shares of company stock valued at $5,294,251. 1.86% of the stock is currently owned by insiders.
BlackRock (NYSE:BLK) last posted its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the firm posted $5.14 earnings per share. BlackRock’s revenue for the quarter was up 20.0% compared to the same quarter last year. research analysts predict that BlackRock, Inc. will post 28.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a $2.88 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.13%. BlackRock’s dividend payout ratio (DPR) is 33.00%.
BLK has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a report on Thursday, January 11th. Citigroup increased their price objective on shares of BlackRock to $625.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Jefferies Group increased their price objective on shares of BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday, January 15th. Credit Suisse Group reaffirmed a “buy” rating and set a $680.00 price objective on shares of BlackRock in a report on Friday, January 12th. Finally, 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 report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. BlackRock has a consensus rating of “Buy” and a consensus target price of $547.92.
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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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