Mariner Wealth Advisors LLC Boosts Holdings in BlackRock, Inc. (BLK)
Mariner Wealth Advisors LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 39.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,430 shares of the asset manager’s stock after acquiring an additional 405 shares during the period. Mariner Wealth Advisors LLC’s holdings in BlackRock were worth $734,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Invictus RG bought a new stake in shares of BlackRock during the third quarter worth $110,000. Oakworth Capital Inc. grew its stake in shares of BlackRock by 67.6% during the fourth quarter. Oakworth Capital Inc. now owns 305 shares of the asset manager’s stock worth $153,000 after buying an additional 123 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. grew its stake in shares of BlackRock by 1,119.2% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 317 shares of the asset manager’s stock worth $141,000 after buying an additional 291 shares during the last quarter. Manchester Capital Management LLC bought a new stake in shares of BlackRock during the third quarter worth $156,000. Finally, Penserra Capital Management LLC grew its stake in shares of BlackRock by 48.8% during the third quarter. Penserra Capital Management LLC now owns 369 shares of the asset manager’s stock worth $164,000 after buying an additional 121 shares during the last quarter. 82.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on BLK shares. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price on the stock in a research note on Thursday, January 11th. Citigroup lifted their price target on shares of BlackRock to $625.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Jefferies Group lifted their price target on shares of BlackRock to $565.00 and gave the stock a “hold” rating in a report on Monday, January 15th. Credit Suisse Group reiterated a “buy” rating and set a $680.00 price target on shares of BlackRock in a report on Friday, January 12th. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $555.00 price target (up previously from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $547.92.
BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. BlackRock’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.14 earnings per share. research analysts forecast that BlackRock, Inc. will post 28.5 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a $2.88 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 annualized dividend and a yield of 2.14%. BlackRock’s payout ratio is presently 33.00%.
In related news, Director Susan Wagner sold 4,000 shares of the business’s 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 transaction, the director now owns 481,915 shares in the company, valued at $243,897,181.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Deryck C. Maughan bought 3,861 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was purchased at an average price of $573.44 per share, for a total transaction of $2,214,051.84. Following the acquisition, the director now owns 12,265 shares of the company’s stock, valued at $7,033,241.60. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 19,311 shares of company stock worth $10,255,887. 1.86% of the stock is owned by company insiders.
ILLEGAL ACTIVITY NOTICE: This story was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://theolympiareport.com/2018/02/23/mariner-wealth-advisors-llc-boosts-holdings-in-blackrock-inc-blk.html.
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.
Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.