PGGM Investments decreased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 50.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,598 shares of the asset manager’s stock after selling 5,596 shares during the period. PGGM Investments’ holdings in BlackRock were worth $2,392,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in shares of BlackRock during the 4th quarter valued at $1,092,934,000. Northern Trust Corp raised its position in shares of BlackRock by 0.9% during the 4th quarter. Northern Trust Corp now owns 1,666,574 shares of the asset manager’s stock valued at $654,663,000 after acquiring an additional 14,587 shares during the last quarter. Geode Capital Management LLC raised its position in shares of BlackRock by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 1,443,990 shares of the asset manager’s stock valued at $566,150,000 after acquiring an additional 60,941 shares during the last quarter. Rehmann Capital Advisory Group raised its position in shares of BlackRock by 51,763.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock valued at $2,300,000 after acquiring an additional 1,082,370 shares during the last quarter. Finally, Flossbach Von Storch AG raised its position in shares of BlackRock by 114.1% during the 4th quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock valued at $228,913,000 after acquiring an additional 310,623 shares during the last quarter. Institutional investors own 83.64% of the company’s stock.
A number of analysts recently commented on the stock. Zacks Investment Research cut shares of BlackRock from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Deutsche Bank cut shares of BlackRock from a “buy” rating to a “hold” rating and lowered their price objective for the company from $444.00 to $405.00 in a research report on Thursday, January 10th. Bank of America restated a “buy” rating and issued a $498.00 price objective (up previously from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Jefferies Financial Group restated a “hold” rating and issued a $427.00 price objective on shares of BlackRock in a research report on Wednesday, January 9th. Finally, Wells Fargo & Co restated a “hold” rating and issued a $425.00 price objective (up previously from $410.00) on shares of BlackRock in a research report on Wednesday, January 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $497.95.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing the Zacks’ consensus estimate of $6.35 by ($0.27). BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $6.24 EPS. BlackRock’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 27.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Tuesday, March 5th. This is a boost from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s dividend payout ratio is 49.02%.
In other BlackRock news, COO Robert L. Goldstein sold 5,133 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $443.00, for a total transaction of $2,273,919.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marc D. Comerchero sold 600 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $432.22, for a total value of $259,332.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,650 shares of company stock valued at $57,774,089. Corporate insiders own 1.75% of the company’s stock.
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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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