Edgemoor Investment Advisors Inc. raised its stake in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,373 shares of the asset manager's stock after purchasing an additional 907 shares during the period. BlackRock accounts for approximately 1.4% of Edgemoor Investment Advisors Inc.'s holdings, making the stock its 20th biggest position. Edgemoor Investment Advisors Inc.'s holdings in BlackRock were worth $10,661,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Camden Capital LLC increased its stake in BlackRock by 52.0% in the 3rd quarter. Camden Capital LLC now owns 494 shares of the asset manager's stock worth $272,000 after acquiring an additional 169 shares during the last quarter. Metis Global Partners LLC increased its position in BlackRock by 18.7% in the third quarter. Metis Global Partners LLC now owns 3,015 shares of the asset manager's stock worth $1,659,000 after purchasing an additional 474 shares during the last quarter. BRR OpCo LLC raised its stake in BlackRock by 37.8% during the third quarter. BRR OpCo LLC now owns 3,390 shares of the asset manager's stock valued at $1,865,000 after purchasing an additional 930 shares in the last quarter. Valley National Advisers Inc. lifted its position in BlackRock by 5.7% during the third quarter. Valley National Advisers Inc. now owns 6,347 shares of the asset manager's stock valued at $3,688,000 after purchasing an additional 341 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of BlackRock by 10.6% in the 3rd quarter. IFP Advisors Inc now owns 3,979 shares of the asset manager's stock worth $1,390,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 77.69% of the company's stock.
Get BlackRock alerts:Insider Activity
In related news, CEO Laurence Fink sold 14,600 shares of the business's stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $685.58, for a total transaction of $10,009,468.00. Following the completion of the transaction, the chief executive officer now owns 549,171 shares in the company, valued at approximately $376,500,654.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Laurence Fink sold 14,600 shares of the stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $685.58, for a total value of $10,009,468.00. Following the completion of the transaction, the chief executive officer now directly owns 549,171 shares of the company's stock, valued at approximately $376,500,654.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen Cohen sold 1,149 shares of the company's stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $753.46, for a total transaction of $865,725.54. Following the transaction, the director now owns 4,135 shares in the company, valued at approximately $3,115,557.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,474 shares of company stock worth $46,026,990. 1.06% of the stock is currently owned by company insiders.
BlackRock Stock Down 1.8 %
Shares of NYSE:BLK opened at $757.16 on Friday. The business's 50 day moving average is $727.09 and its 200 day moving average is $680.69. The stock has a market cap of $113.73 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. BlackRock, Inc. has a 52-week low of $503.12 and a 52-week high of $824.87. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.33.BlackRock (NYSE:BLK – Get Rating) last released its quarterly earnings data on Friday, January 13th. The asset manager reported $8.93 earnings per share for the quarter, beating the consensus estimate of $7.99 by $0.94. BlackRock had a return on equity of 14.43% and a net margin of 28.97%. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.16 billion. Sell-side analysts predict that BlackRock, Inc. will post 34.53 EPS for the current year.
BlackRock Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Tuesday, March 7th will be issued a dividend of $5.00 per share. The ex-dividend date is Monday, March 6th. This represents a $20.00 dividend on an annualized basis and a yield of 2.64%. This is a positive change from BlackRock's previous quarterly dividend of $4.88. BlackRock's dividend payout ratio is currently 57.50%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on BLK. UBS Group cut shares of BlackRock from a "buy" rating to a "neutral" rating and decreased their target price for the company from $700.00 to $585.00 in a research report on Tuesday, October 11th. Evercore ISI dropped their target price on BlackRock to $640.00 in a report on Thursday, October 20th. JPMorgan Chase & Co. decreased their price target on BlackRock from $716.00 to $666.00 and set an "overweight" rating on the stock in a report on Friday, October 14th. Credit Suisse Group raised their price target on BlackRock from $540.00 to $680.00 and gave the stock a "neutral" rating in a research report on Thursday, January 12th. Finally, Bank of America reduced their target price on shares of BlackRock from $821.00 to $813.00 in a research note on Sunday, January 15th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $738.80.
BlackRock Company Profile
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BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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