BlackRock, Inc. (BLK) Stake Lowered by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. lowered its stake in BlackRock, Inc. (NYSE:BLK) by 49.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 248,019 shares of the asset manager’s stock after selling 243,888 shares during the quarter. Epoch Investment Partners Inc. owned 0.16% of BlackRock worth $116,900,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Pillar Pacific Capital Management LLC boosted its holdings in BlackRock by 0.6% in the second quarter. Pillar Pacific Capital Management LLC now owns 17,449 shares of the asset manager’s stock worth $8,708,000 after purchasing an additional 106 shares during the last quarter. Parsons Capital Management Inc. RI boosted its holdings in BlackRock by 0.7% in the second quarter. Parsons Capital Management Inc. RI now owns 15,053 shares of the asset manager’s stock worth $7,512,000 after purchasing an additional 108 shares during the last quarter. Clarus Wealth Advisors boosted its holdings in BlackRock by 44.3% in the third quarter. Clarus Wealth Advisors now owns 355 shares of the asset manager’s stock worth $167,000 after purchasing an additional 109 shares during the last quarter. Cibc Bank USA boosted its holdings in BlackRock by 8.8% in the third quarter. Cibc Bank USA now owns 1,454 shares of the asset manager’s stock worth $686,000 after purchasing an additional 117 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in BlackRock by 16.0% in the second quarter. Signaturefd LLC now owns 877 shares of the asset manager’s stock worth $438,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 83.14% of the company’s stock.

Several research analysts have weighed in on the stock. Argus decreased their price target on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday, October 17th. ValuEngine downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Wells Fargo & Co decreased their price target on shares of BlackRock from $545.00 to $510.00 and set a “market perform” rating on the stock in a research report on Thursday, October 11th. Deutsche Bank reiterated a “buy” rating and issued a $550.00 price target (down from $559.00) on shares of BlackRock in a research report on Thursday, October 11th. Finally, JPMorgan Chase & Co. upgraded shares of BlackRock to an “overweight” rating in a research report on Tuesday, October 9th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $554.31.

In other news, Director J. Richard Kushel sold 2,100 shares of the firm’s 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 filing with the SEC, which is available through this hyperlink. Also, Director William E. Ford acquired 2,000 shares of the firm’s stock in a transaction dated Monday, October 22nd. The shares were purchased at an average price of $395.21 per share, for a total transaction of $790,420.00. Following the completion of 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. 1.86% of the stock is owned by company insiders.

BLK opened at $408.75 on Thursday. 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 1-year low of $376.31 and a 1-year high of $594.52. The company has a market capitalization of $64.46 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.55.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $5.76 EPS. On average, equities analysts anticipate that BlackRock, Inc. will post 27.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 7th will be given a dividend of $3.13 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $12.52 annualized dividend and a dividend yield of 3.06%. BlackRock’s payout ratio is 55.40%.

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BlackRock Company Profile

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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