Cubist Systematic Strategies LLC Trims Stake in BlackRock, Inc. (BLK)

Cubist Systematic Strategies LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 58.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,891 shares of the asset manager’s stock after selling 2,642 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in BlackRock were worth $845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after acquiring an additional 656,569 shares during the last quarter. Capital World Investors grew its position in shares of BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. BlackRock Inc. grew its position in shares of BlackRock by 3.2% in the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after purchasing an additional 209,209 shares in the last quarter. Third Point LLC purchased a new stake in shares of BlackRock in the second quarter valued at approximately $654,736,000. Finally, The Manufacturers Life Insurance Company grew its position in shares of BlackRock by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 652,317 shares of the asset manager’s stock valued at $275,544,000 after purchasing an additional 18,054 shares in the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.

In other BlackRock news, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred 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 sale, 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. Company insiders own 1.86% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target for the company in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on BlackRock to $558.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $500.00 price objective on shares of BlackRock in a research report on Thursday, October 12th. Finally, Jefferies Group restated a “hold” rating and set a $465.00 price target on shares of BlackRock in a research report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $510.67.

BlackRock, Inc. (NYSE BLK) traded up $17.61 during trading on Friday, reaching $555.53. The company’s stock had a trading volume of 940,509 shares, compared to its average volume of 476,118. BlackRock, Inc. has a one year low of $365.83 and a one year high of $556.37. 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 $89,070.00, a PE ratio of 26.01, a PEG ratio of 1.48 and a beta of 1.81.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.30. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.14 earnings per share. analysts anticipate that BlackRock, Inc. will post 22.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is currently 46.82%.

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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.

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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