Lodestar Investment Counsel LLC IL grew its holdings in BlackRock, Inc. (NYSE:BLK) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,912 shares of the asset manager’s stock after purchasing an additional 870 shares during the quarter. Lodestar Investment Counsel LLC IL’s holdings in BlackRock were worth $10,647,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. WESPAC Advisors SoCal LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $25,000. Hanson McClain Inc. raised its holdings in BlackRock by 425.0% during the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after purchasing an additional 51 shares in the last quarter. Private Ocean LLC raised its holdings in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after purchasing an additional 62 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $33,000. Finally, Legacy Financial Advisors Inc. raised its holdings in BlackRock by 125.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock worth $35,000 after purchasing an additional 49 shares in the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock stock opened at $454.35 on Monday. The firm has a market capitalization of $70.50 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.68 and a beta of 1.40. BlackRock, Inc. has a 12 month low of $360.79 and a 12 month high of $557.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.11 and a current ratio of 1.11.
BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing analysts’ consensus estimates of $6.35 by ($0.27). The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.47 billion. BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The business’s revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.24 earnings per share. As a group, equities research analysts expect that BlackRock, Inc. will post 27.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date was Tuesday, March 5th. BlackRock’s payout ratio is presently 49.02%.
BLK has been the topic of a number of research analyst reports. Credit Suisse Group reissued a “buy” rating and set a $532.00 price objective on shares of BlackRock in a report on Thursday, January 17th. Argus reissued a “buy” rating on shares of BlackRock in a report on Thursday, January 17th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $472.00 price objective on shares of BlackRock in a report on Wednesday, January 9th. Barclays reissued a “buy” rating on shares of BlackRock in a report on Thursday, January 10th. Finally, Citigroup cut their price objective on shares of BlackRock from $500.00 to $450.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $497.95.
In other BlackRock news, insider J. Richard Kushel sold 3,077 shares of the business’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $409.29, for a total value of $1,259,385.33. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert L. Goldstein sold 5,133 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $443.00, for a total transaction of $2,273,919.00. The disclosure for this sale can be found here. Insiders sold a total of 138,650 shares of company stock worth $57,774,089 over the last ninety days. Corporate insiders own 1.75% of the company’s stock.
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BlackRock Company 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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