Maryland Capital Management boosted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,144 shares of the asset manager’s stock after acquiring an additional 443 shares during the period. Maryland Capital Management’s holdings in BlackRock were worth $2,129,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Harwood Advisory Group LLC purchased a new stake in BlackRock during the fourth quarter worth $2,371,000. Close Asset Management Ltd purchased a new stake in BlackRock during the fourth quarter worth $46,456,000. Calamos Advisors LLC lifted its holdings in BlackRock by 1.9% during the fourth quarter. Calamos Advisors LLC now owns 14,036 shares of the asset manager’s stock worth $7,210,000 after buying an additional 264 shares during the period. Sand Hill Global Advisors LLC lifted its holdings in BlackRock by 1.7% during the fourth quarter. Sand Hill Global Advisors LLC now owns 8,267 shares of the asset manager’s stock worth $4,247,000 after buying an additional 139 shares during the period. Finally, Amalgamated Bank lifted its holdings in BlackRock by 9.7% during the fourth quarter. Amalgamated Bank now owns 15,661 shares of the asset manager’s stock worth $8,045,000 after buying an additional 1,388 shares during the period. Institutional investors own 82.37% of the company’s stock.
Several analysts have recently commented on BLK shares. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a report on Thursday, January 11th. Citigroup increased their price objective on BlackRock to $625.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Jefferies Group increased their price objective on BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday, January 15th. Credit Suisse Group reiterated a “buy” rating and set a $680.00 price objective on shares of BlackRock in a report on Friday, January 12th. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $555.00 price objective (up previously from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $547.92.
BlackRock (NYSE:BLK) last issued its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the business posted $5.14 EPS. analysts forecast that BlackRock, Inc. will post 28.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be paid a $2.88 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is 33.00%.
In related news, COO Robert L. Goldstein sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $558.00, for a total value of $2,790,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Mccombe sold 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $520.64, for a total value of $1,041,280.00. The disclosure for this sale can be found here. Insiders sold a total of 20,961 shares of company stock valued at $11,375,444 in the last 90 days. 1.86% of the stock is currently owned by company insiders.
BlackRock Company Profile
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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