According to the most recent Form 13F filing that Wright Investors Service Inc. submitted with the Securities and Exchange Commission, the company’s holdings in BlackRock, Inc. (NYSE: BLK) experienced a decrease of 6.9% during the third quarter. The fund’s total holdings of the asset manager’s stock amounted to 4,790 shares at the end of the quarter, following the sale of 353 shares during that period. The value of Wright Investors Service Inc.’s BlackRock holdings was $2,636,000 at the end of the company’s most recent fiscal quarter.
Recent months have seen several large investors make adjustments to the proportion of the company’s stock that is held within their investment portfolios. During the second quarter, Wagner Wealth Management LLC acquired a further interest in BlackRock, approximately 25,000 dollars in value. During the second quarter, approximately $31,000 was put toward purchasing additional BlackRock shares by ACG Wealth. Karp Capital Management Corporation made a total investment of $31,000 to open a new position in BlackRock during the third quarter of this fiscal year. Charter Oak Capital Management LLC purchased BlackRock shares for $33,000 during the year’s second quarter. The last thing I’ll mention, but certainly not the least important, is that during the second quarter, Coston McIsaac & Partners invested an additional $34,000 in their holdings of BlackRock. Institutional investors own most of the company’s stock (76.69% of the total).
The price of a share of BlackRock decreased by $3.74 on Friday at noon, bringing the price to $704.22. The total number of transactions of the stock was 11,787, which is significantly less than the daily transaction average of 842,644 shares. The company’s simple moving average over the past 50 days is $717.03, and its simple moving average over the past 200 days is $665.09, respectively. The debt-to-equity ratio comes in at 0.33, the current ratio comes in at 3.03, and the quick ratio comes in at 3.03, respectively. The company’s market capitalization is $112.68 billion, its P/E ratio is 20.78, its PEG score is 3.92, and its beta coefficient is 1.27. All of these metrics indicate that the company has a high-priced stock. Over the last 52 weeks, the price of a share of BlackRock, Inc., has ranged from as low as $503.12 to as high as $891.16.
On October 13th, BlackRock (NYSE: BLK) released its most recent quarterly earnings report for investors to review. The earnings per share that the asset management company reported for the quarter were $9.55, which is $1.85 higher than the consensus forecast of $7.70. The company’s most recent quarter’s sales came in at $4.31 billion, which is significantly higher than the average prediction of $4.17 billion in sales for the quarter that was made. BlackRock achieved a return on equity of 15.07%, while the net margin for the company was 29.84%. Compared to the same quarter in the previous year, the total revenue for the current quarter came in at a lower level, down 14.6%. The company had earnings per share of $10.95 during the comparable quarter that occurred the year before. The researchers predicted that BlackRock, Inc. would profit 34.18 cents per share during the fiscal year.
In addition, the business just recently announced a quarterly dividend, which, after being paid out, was then distributed on the 23rd of December. On Wednesday, December 7th, shareholders of record were each given a dividend payment that was in the amount of $4.88. This payment was made. This comes from a dividend payment of $19.52 and a dividend yield of 2.60% when calculated annually. This dividend’s ex-dividend date, which fell on a Tuesday in December, was the 6th of that month. BlackRock’s dividend payout ratio (also known as DPR) currently stands at 53.79%.
Professionals in the field of equity research have recently published several studies that are related to BLK stock. The “neutral” rating that Credit Suisse Group had given to BlackRock was upgraded to “overweight,” and their price objective for the stock was increased from $540.00 to $680.00. A research report published on Thursday included an announcement about both of these alterations to the system. The beginning of Wells Fargo & Company’s coverage of BlackRock was announced in a report that was published on December 14th, the day after Christmas. They gave the company an “overweight” rating and determined that an $820.00 price target was appropriate. In a research report released on Tuesday, October 11th, UBS Group lowered its price target for shares of BlackRock from $700.00 to $585.00 and downgraded the stock from a “buy” rating to a “neutral” rating. Both of these actions were taken about the company’s stock. Goldman Sachs Group published a research note on January 4 stating that they had upgraded BlackRock from a “hold” rating to a “buy” rating and that they had increased their target price on the stock from $741.00 to $825.00. On Wednesday, October 12, coverage of BlackRock shares on StockNews.com began. This should not be considered the least important point. They advised their clients to “hold” the stock moving forward. Seven of the equity research analysts have given the stock a hold rating, but all seven have recommended that investors purchase company shares. According to Bloomberg.com, the stock is currently rated a “Moderate Buy” by the consensus, and the consensus price goal is currently set at $730.43. In addition, Bloomberg.com reports that the price target for the stock is currently set at $730.43.
The Chief Executive Officer of BlackRock, Laurence Fink, sold 14,600 of the company’s shares on November 8th, as was reported in other BlackRock-related news. The total amount obtained from the sale of the shares was $10,094,680.00, which comes out to an individual share price of $685.58. As a result of the transaction, the CEO now owns 549,171 shares of the company’s stock, which are worth a total of $376,500,654.18. Because of the filing with the SEC, information regarding the transaction is now available to the general public. On the website of the SEC, you can locate this particular file. According to additional BlackRock-related news, on Friday, November 11, BlackRock director Rachel Lord sold 3,950 shares of the company’s stock. BlackRock disclosed this information. The sale of the shares resulted in total revenue of $3,054,969.50, equivalent to a price of $773.41 for each share. Because of the transaction, the director is now the direct owner of 8,319 company shares, and the total value of those shares is approximately $6,433,997.79. This page contains the filing containing the information about the transaction provided to the Securities and Exchange Commission (SEC). You can access the filing by clicking here. In addition, on November 8th, 14,600 of the company’s shares of stock were sold by Laurence Fink, the company’s CEO. The total amount obtained from the sale of the shares was $10,094,680.00, which comes out to an individual share price of $685.58. Following the completion of the transaction, the CEO of the company will have a total of 549,171 shares in the company. These shares have a current value of approximately $376,500,654.18. Disclosures that are related to the sale might be found in this section of the website. Insiders of a company have sold 60,860 shares of company stock over the past three months, bringing in a total of $44,060,191 in profits. The management of the company and the employees of the company collectively control 1.06% of the company’s total shares.