Ladenburg Thalmann Financial Services Inc. trimmed its stake in BlackRock, Inc. (NYSE:BLK) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,318 shares of the asset manager’s stock after selling 447 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in BlackRock were worth $9,978,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after acquiring an additional 656,569 shares during the period. Capital World Investors grew its position in BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after acquiring an additional 810,667 shares during the period. BlackRock Inc. grew its position in BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after acquiring an additional 209,209 shares during the period. Third Point LLC purchased a new stake in BlackRock during the second quarter valued at about $654,736,000. Finally, Harbour Capital Advisors LLC grew its position in BlackRock by 38,807.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock valued at $2,848,000 after acquiring an additional 1,199,932 shares during the period. 83.74% of the stock is owned by institutional investors.
A number of research firms have issued reports on BLK. Zacks Investment Research downgraded BlackRock from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. J P Morgan Chase & Co upped their target price on BlackRock to $558.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $465.00 target price on shares of BlackRock in a research report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $500.00 target price on shares of BlackRock in a research report on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $489.08.
BlackRock, Inc. (BLK) traded up $1.82 during trading hours on Tuesday, hitting $513.95. The company had a trading volume of 30,953 shares, compared to its average volume of 526,549. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock, Inc. has a fifty-two week low of $365.83 and a fifty-two week high of $517.30. The firm has a market capitalization of $82,649.54, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.79 and a beta of 1.81.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the firm posted $5.14 earnings per share. BlackRock’s revenue for the quarter was up 14.0% compared to the same quarter last year. equities research analysts expect that BlackRock, Inc. will post 22.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Monday, December 4th will be paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s payout ratio is currently 46.82%.
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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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