William Blair Investment Management LLC lessened its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 121,094 shares of the asset manager’s stock after selling 777 shares during the period. William Blair Investment Management LLC owned approximately 0.08% of BlackRock worth $57,075,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $116,000. Canton Hathaway LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $146,000. AlphaMark Advisors LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $147,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in BlackRock during the 2nd quarter worth approximately $150,000. Finally, Legacy Advisors LLC increased its holdings in BlackRock by 79.8% during the 3rd quarter. Legacy Advisors LLC now owns 338 shares of the asset manager’s stock worth $159,000 after acquiring an additional 150 shares during the period. 80.42% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on BLK. Zacks Investment Research lowered shares of BlackRock from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Deutsche Bank increased their price target on shares of BlackRock from $549.00 to $559.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. JPMorgan Chase & Co. raised shares of BlackRock to an “overweight” rating in a report on Tuesday, October 9th. Morgan Stanley decreased their price target on shares of BlackRock from $607.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, October 9th. Finally, UBS Group decreased their price target on shares of BlackRock from $575.00 to $565.00 and set a “buy” rating on the stock in a report on Monday, October 8th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $554.31.
BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 16th. The asset manager reported $7.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.93 by $0.59. The company 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 firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $5.76 EPS. Research analysts expect that BlackRock, Inc. will post 27.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 7th will be given a dividend of $3.13 per share. The ex-dividend date is Thursday, December 6th. This represents a $12.52 annualized dividend and a yield of 2.93%. BlackRock’s payout ratio is currently 55.40%.
In other BlackRock news, Director J. Richard Kushel sold 2,100 shares of the stock in a transaction on Monday, November 26th. The shares were sold at an average price of $419.11, for a total transaction of $880,131.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William E. Ford purchased 2,000 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were purchased at an average cost of $395.21 per share, with a total value of $790,420.00. Following the transaction, the director now directly owns 9,466 shares in the company, valued at $3,741,057.86. The disclosure for this purchase can be found here. Corporate insiders own 1.86% of the company’s stock.
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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