L & S Advisors Inc bought a new position in BlackRock, Inc. (NYSE:BLK – Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,781 shares of the asset manager’s stock, valued at approximately $4,540,000.
Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in BlackRock by 19.1% in the 1st quarter. Bessemer Group Inc. now owns 2,677 shares of the asset manager’s stock worth $2,232,000 after purchasing an additional 429 shares during the period. Natixis purchased a new position in BlackRock in the 1st quarter worth approximately $390,000. CreativeOne Wealth LLC purchased a new position in BlackRock in the 1st quarter worth approximately $759,000. Axxcess Wealth Management LLC increased its stake in BlackRock by 35.8% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after purchasing an additional 1,248 shares during the period. Finally, Toronto Dominion Bank increased its stake in BlackRock by 1.9% in the 1st quarter. Toronto Dominion Bank now owns 71,028 shares of the asset manager’s stock worth $59,216,000 after purchasing an additional 1,298 shares during the period. Institutional investors own 80.69% of the company’s stock.
Insider Buying and Selling at BlackRock
In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. This represents a 64.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on BlackRock
BlackRock Trading Down 0.3 %
BlackRock stock opened at $1,024.67 on Thursday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $978.33 and its two-hundred day simple moving average is $876.59. BlackRock, Inc. has a 12 month low of $718.72 and a 12 month high of $1,068.34. The company has a market capitalization of $158.70 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30.
BlackRock (NYSE:BLK – Get Free Report) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $10.91 earnings per share. As a group, equities analysts predict that BlackRock, Inc. will post 43.17 earnings per share for the current fiscal year.
BlackRock Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 1.99%. BlackRock’s dividend payout ratio is 50.35%.
BlackRock Profile
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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