Two Sigma Investments LP reduced its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 96.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,308 shares of the asset manager's stock after selling 31,699 shares during the period. Two Sigma Investments LP's holdings in BlackRock were worth $1,341,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC purchased a new stake in BlackRock during the 4th quarter valued at approximately $26,000. Collier Financial purchased a new stake in shares of BlackRock during the 4th quarter worth $32,000. Compass Planning Associates Inc acquired a new position in shares of BlackRock during the 4th quarter worth $33,000. Synergy Investment Management LLC purchased a new position in BlackRock in the fourth quarter valued at about $40,000. Finally, Curio Wealth LLC acquired a new position in BlackRock during the fourth quarter worth $41,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Citigroup lowered their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley lowered their price target on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research report on Saturday, May 24th. Wells Fargo & Company increased their target price on BlackRock from $1,035.00 to $1,105.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,082.46.
View Our Latest Research Report on BLK
BlackRock Trading Up 0.5%
Shares of NYSE:BLK traded up $4.80 during midday trading on Friday, reaching $990.26. The company's stock had a trading volume of 622,950 shares, compared to its average volume of 688,357. The business has a 50 day moving average price of $924.37 and a 200 day moving average price of $973.80. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The firm has a market cap of $153.42 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.
BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the previous year, the business earned $9.81 EPS. The firm's revenue was up 11.6% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.
BlackRock Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio is currently 50.63%.
Insider Buying and Selling at BlackRock
In other news, Director J. Richard Kushel sold 2,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the completion of the sale, the director now directly owns 66,034 shares in the company, valued at $56,261,628.34. This represents a 2.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.98% of the stock is owned by company insiders.
BlackRock Company Profile
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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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