Valeo Financial Advisors LLC Acquires 368 Shares of BlackRock, Inc. (NYSE:BLK)
Valeo Financial Advisors LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 29.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,598 shares of the asset manager’s stock after buying an additional 368 shares during the period. Valeo Financial Advisors LLC’s holdings in BlackRock were worth $821,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Invictus RG purchased a new stake in BlackRock during the third quarter valued at about $110,000. Oakworth Capital Inc. lifted its stake in BlackRock by 67.6% during the fourth 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. Sumitomo Mitsui Financial Group Inc. lifted its stake in BlackRock by 1,119.2% during the third 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. Manchester Capital Management LLC purchased a new stake in BlackRock during the third quarter valued at about $156,000. Finally, Penserra Capital Management LLC lifted its stake in BlackRock by 48.8% during the third 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. Hedge funds and other institutional investors own 84.65% of the company’s stock.
A number of research firms have recently issued reports on BLK. JPMorgan Chase & Co. reduced their price target on shares of BlackRock to $640.00 and set an “overweight” rating for the company in a research report on Wednesday. Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank reduced their price target on shares of BlackRock to $623.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. Citigroup lowered shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price target for the company. in a research report on Thursday, January 25th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $555.00 price objective (up previously from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $567.15.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the consensus estimate of $5.94 by $0.30. BlackRock had a return on equity of 12.31% and a net margin of 39.79%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company posted $5.14 earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. equities research analysts forecast that BlackRock, Inc. will post 28.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a $2.88 dividend. This is an increase from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date is Tuesday, March 6th. This represents a $11.52 annualized dividend and a dividend yield of 2.06%. BlackRock’s dividend payout ratio (DPR) is presently 38.02%.
In other news, insider Jeff A. Smith sold 425 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $565.96, for a total value of $240,533.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Deryck C. Maughan acquired 3,861 shares of the stock in a transaction dated Wednesday, January 17th. The stock was bought at an average price of $573.44 per share, for a total transaction of $2,214,051.84. Following the purchase, 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. In the last 90 days, insiders sold 20,961 shares of company stock worth $11,375,444. 1.86% of the stock is currently owned by corporate insiders.
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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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