Coastline Trust Co cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,360 shares of the asset manager’s stock after selling 365 shares during the period. Coastline Trust Co’s holdings in BlackRock were worth $2,240,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Third Point LLC purchased a new stake in shares of BlackRock during the second quarter worth $654,736,000. Capital World Investors grew its holdings in shares of BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after buying an additional 810,667 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after buying an additional 656,569 shares in the last quarter. BlackRock Inc. grew its holdings in shares of BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after buying an additional 209,209 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of BlackRock by 2,450.2% during the third quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock worth $81,105,000 after buying an additional 174,554 shares in the last quarter. Institutional investors own 83.55% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) traded up $13.51 on Wednesday, hitting $576.51. 982,125 shares of the company were exchanged, compared to its average volume of 651,950. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock, Inc. has a 12-month low of $365.83 and a 12-month high of $571.82. The stock has a market capitalization of $92,430.00, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.53 and a beta of 1.81.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a $2.88 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is currently 33.00%.
BLK has been the subject of a number of research reports. Credit Suisse Group reaffirmed an “outperform” rating on shares of BlackRock in a report on Thursday, October 12th. Barclays upped their target price on shares of BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $501.00 target price (up previously from $476.00) on shares of BlackRock in a report on Thursday, October 5th. Goldman Sachs Group raised shares of BlackRock from a “neutral” rating to a “buy” rating and upped their price objective for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Finally, Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $547.92.
In other BlackRock news, Director Susan Wagner sold 4,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the transaction, the director now owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeff A. Smith sold 100 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,525 shares of company stock valued at $2,312,687. 1.86% of the stock is currently owned by insiders.
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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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