2 weeks Ago By ABMN Staff
Covington Investment Advisors Inc. lessened its position in BlackRock, Inc. ( NYSE:BLK – Free Report ) by 2.
6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,829 shares of the asset manager’s stock after selling 396 shares during the quarter. BlackRock accounts for approximately 1.
9% of Covington Investment Advisors Inc.’s portfolio, making the stock its 20th largest holding. Covington Investment Advisors Inc.
’s holdings in BlackRock were worth $11,675,000 at the end of the most recent reporting period. A number of other large investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc.
grew its position in BlackRock by 4.8% during the fourth quarter. Gilbert & Cook Inc.
now owns 1,366 shares of the asset manager’s stock valued at $1,109,000 after acquiring an additional 62 shares during the last quarter. Gryphon Financial Partners LLC bought a new position in shares of BlackRock during the 4th quarter valued at $354,000. J.
W. Coons Advisors LLC raised its position in BlackRock by 0.6% in the 4th quarter.
J. W. Coons Advisors LLC now owns 3,564 shares of the asset manager’s stock worth $2,893,000 after purchasing an additional 22 shares during the period.
Evoke Wealth LLC lifted its stake in BlackRock by 8.2% in the fourth quarter. Evoke Wealth LLC now owns 488 shares of the asset manager’s stock worth $396,000 after purchasing an additional 37 shares during the last quarter.
Finally, Alberta Investment Management Corp grew its stake in shares of BlackRock by 17.6% during the fourth quarter. Alberta Investment Management Corp now owns 4,000 shares of the asset manager’s stock valued at $3,247,000 after buying an additional 600 shares during the last quarter.
Hedge funds and other institutional investors own 80.69% of the company’s stock. Analyst Upgrades and Downgrades BLK has been the subject of a number of recent research reports.
Morgan Stanley lowered their target price on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th.
Wells Fargo & Company initiated coverage on shares of BlackRock in a research report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 price objective on the stock.
Evercore ISI increased their price objective on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th.
TD Cowen reduced their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research note on Monday, July 8th.
Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a report on Thursday, August 15th.
Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $902.13.
BlackRock Trading Up 0.0 % NYSE:BLK opened at $945.21 on Monday.
The firm has a market capitalization of $140.46 billion, a P/E ratio of 24.02, a PEG ratio of 2.
05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.
37, a current ratio of 5.06 and a quick ratio of 5.06.
BlackRock, Inc. has a one year low of $596.18 and a one year high of $952.
75. The company’s 50-day simple moving average is $879.35 and its 200 day simple moving average is $821.
74. BlackRock ( NYSE:BLK – Get Free Report ) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.
36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40.
BlackRock had a return on equity of 15.44% and a net margin of 32.36%.
The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.85 billion.
During the same quarter last year, the company earned $9.28 EPS. The firm’s revenue for the quarter was up 7.
7% on a year-over-year basis. As a group, analysts forecast that BlackRock, Inc. will post 41.
37 EPS for the current fiscal year. BlackRock Announces Dividend The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a dividend of $5.
10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.
40 dividend on an annualized basis and a yield of 2.16%. BlackRock’s dividend payout ratio is currently 51.
84%. Insiders Place Their Bets In related news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $834.
42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.
60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink . In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the company’s stock in a transaction dated Tuesday, July 16th.
The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00.
Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink .
Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.
48. Following the completion of the sale, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56.
The disclosure for this sale can be found here . Over the last ninety days, insiders sold 93,042 shares of company stock valued at $79,387,117. Insiders own 0.
90% of the company’s stock. BlackRock Profile ( Free Report ) 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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