Cypress Capital Group grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,488 shares of the asset manager’s stock after purchasing an additional 415 shares during the period. BlackRock makes up about 1.1% of Cypress Capital Group’s holdings, making the stock its 27th largest holding. Cypress Capital Group’s holdings in BlackRock were worth $5,136,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. IFM Investors Pty Ltd acquired a new position in BlackRock during the third quarter worth $1,522,000. Fieldpoint Private Securities LLC lifted its stake in BlackRock by 115.5% during the third quarter. Fieldpoint Private Securities LLC now owns 808 shares of the asset manager’s stock worth $361,000 after purchasing an additional 433 shares in the last quarter. Coldstream Capital Management Inc. acquired a new position in BlackRock during the third quarter worth $204,000. Griffin Asset Management Inc. acquired a new position in BlackRock during the third quarter worth $1,008,000. Finally, Piedmont Investment Advisors LLC lifted its stake in BlackRock by 1.0% during the third quarter. Piedmont Investment Advisors LLC now owns 26,832 shares of the asset manager’s stock worth $11,996,000 after purchasing an additional 254 shares in the last quarter. Institutional investors own 83.74% of the company’s stock.
A number of research analysts have commented on the company. J P Morgan Chase & Co upped their price target on BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price target on shares of BlackRock in a research note on Thursday, October 12th. Jefferies Group restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Friday, August 18th. Finally, BidaskClub lowered BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and an average target price of $489.08.
Shares of BlackRock, Inc. (BLK) opened at $512.55 on Thursday. BlackRock, Inc. has a 12-month low of $365.83 and a 12-month high of $518.88. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. The firm has a market capitalization of $83,008.69, a price-to-earnings ratio of 24.02, a PEG ratio of 1.80 and a beta of 1.81.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the company earned $5.14 earnings per share. The company’s revenue was up 14.0% on a year-over-year basis. research analysts forecast that BlackRock, Inc. will post 22.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Monday, December 4th will be given a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, December 1st. BlackRock’s dividend payout ratio is currently 46.82%.
In related news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan Wagner sold 4,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. Insiders have sold 5,200 shares of company stock worth $2,599,302 in the last ninety days. Corporate insiders own 1.86% of the company’s stock.
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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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