Resources Management Corp CT ADV acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,385 shares of the asset manager’s stock, valued at approximately $6,856,000. BlackRock comprises 1.3% of Resources Management Corp CT ADV’s holdings, making the stock its 26th biggest position.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. lifted its holdings in BlackRock by 83.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 18,829 shares of the asset manager’s stock worth $8,838,000 after buying an additional 8,546 shares in the last quarter. Brookstone Capital Management grew its stake in shares of BlackRock by 50.1% in the second quarter. Brookstone Capital Management now owns 794 shares of the asset manager’s stock worth $373,000 after acquiring an additional 265 shares in the last quarter. HCR Wealth Advisors purchased a new stake in shares of BlackRock during the second quarter worth $213,000. Wetherby Asset Management Inc. increased its position in shares of BlackRock by 11.1% during the second quarter. Wetherby Asset Management Inc. now owns 2,652 shares of the asset manager’s stock worth $1,244,000 after acquiring an additional 264 shares during the period. Finally, Ballentine Partners LLC raised its stake in shares of BlackRock by 12.6% in the second quarter. Ballentine Partners LLC now owns 1,696 shares of the asset manager’s stock valued at $796,000 after acquiring an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on BlackRock from $547.00 to $554.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. ValuEngine upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup reduced their price target on BlackRock from $545.00 to $500.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Barclays reiterated a “buy” rating and issued a $485.00 price objective on shares of BlackRock in a research note on Wednesday, October 9th. Finally, Credit Suisse Group set a $567.00 price objective on BlackRock and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $507.34.
NYSE:BLK traded up $0.93 during trading hours on Wednesday, hitting $486.69. The company’s stock had a trading volume of 729,748 shares, compared to its average volume of 559,781. The stock has a market capitalization of $76.40 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.74 and a beta of 1.54. The stock has a fifty day moving average of $475.23 and a 200-day moving average of $451.43. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.76. BlackRock, Inc. has a 52-week low of $360.79 and a 52-week high of $496.90.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $7.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.95 by $0.20. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.69 billion. BlackRock had a return on equity of 12.95% and a net margin of 29.31%. BlackRock’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $7.52 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 27.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a $3.30 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.71%. BlackRock’s payout ratio is currently 49.02%.
In other BlackRock news, CEO Laurence Fink sold 100 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $457.02, for a total value of $45,702.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jerkovic Milan 2,522,596 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. Insiders have sold a total of 6,095 shares of company stock worth $2,900,567 in the last three months. Corporate insiders own 1.42% 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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