Miles Capital Inc. lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,184 shares of the asset manager’s stock after selling 281 shares during the period. BlackRock comprises 1.3% of Miles Capital Inc.’s holdings, making the stock its 13th largest holding. Miles Capital Inc.’s holdings in BlackRock were worth $1,601,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Garrett Wealth Advisory Group LLC acquired a new position in BlackRock during the 3rd quarter worth approximately $30,000. Ellevest Inc. increased its position in BlackRock by 89.2% in the 2nd quarter. Ellevest Inc. now owns 70 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 33 shares during the period. Vista Private Wealth Partners. LLC bought a new position in shares of BlackRock during the third quarter valued at $33,000. Asset Dedication LLC bought a new position in shares of BlackRock during the third quarter valued at $33,000. Finally, Simon Quick Advisors LLC raised its stake in shares of BlackRock by 760.0% during the fourth quarter. Simon Quick Advisors LLC now owns 86 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
Several research firms have recently weighed in on BLK. Barclays reiterated a “buy” rating and set a $485.00 price objective on shares of BlackRock in a research report on Wednesday, October 9th. Argus restated a “buy” rating and issued a $570.00 target price (up previously from $535.00) on shares of BlackRock in a report on Wednesday, January 15th. ValuEngine lowered shares of BlackRock from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Wells Fargo & Co reaffirmed a “buy” rating on shares of BlackRock in a research report on Sunday. Finally, BMO Capital Markets started coverage on BlackRock in a report on Monday, October 7th. They set a “market perform” rating and a $547.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $534.80.
BLK traded down $2.84 during midday trading on Tuesday, hitting $532.40. The company had a trading volume of 179,904 shares, compared to its average volume of 443,939. BlackRock, Inc. has a 52 week low of $401.80 and a 52 week high of $539.20. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $82.62 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.55 and a beta of 1.54. The stock’s 50 day moving average price is $505.63 and its 200 day moving average price is $466.04.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $8.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $7.69 by $0.65. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.81 billion. BlackRock had a net margin of 30.79% and a return on equity of 14.05%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.08 EPS. Research analysts predict that BlackRock, Inc. will post 31.54 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s payout ratio is 46.35%.
In other BlackRock news, CEO Laurence Fink sold 100 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $457.02, for a total transaction of $45,702.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director J. Richard Kushel sold 2,276 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $535.21, for a total value of $1,218,137.96. The disclosure for this sale can be found here. Insiders sold a total of 6,371 shares of company stock valued at $3,225,225 over the last ninety days. 1.42% of the stock is currently owned by corporate insiders.
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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