Penserra Capital Management LLC Grows Holdings in BlackRock, Inc. (NYSE:BLK)
Penserra Capital Management LLC boosted its holdings in BlackRock, Inc. (NYSE:BLK) by 23.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141 shares of the asset manager’s stock after purchasing an additional 27 shares during the quarter. Penserra Capital Management LLC’s holdings in BlackRock were worth $70,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Financial Group Inc. raised its stake in shares of BlackRock by 9.0% during the fourth quarter. Sumitomo Mitsui Financial Group Inc. now owns 4,482 shares of the asset manager’s stock valued at $2,253,000 after purchasing an additional 370 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in BlackRock by 5.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 115,294 shares of the asset manager’s stock valued at $57,959,000 after acquiring an additional 5,938 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of BlackRock by 4.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 20,033 shares of the asset manager’s stock worth $10,071,000 after buying an additional 776 shares during the last quarter. Alesco Advisors LLC acquired a new stake in shares of BlackRock in the fourth quarter worth $212,000. Finally, Wealthspire Advisors L.P. increased its stake in shares of BlackRock by 2.2% in the fourth quarter. Wealthspire Advisors L.P. now owns 3,024 shares of the asset manager’s stock worth $1,520,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 83.16% of the company’s stock.
Several research firms have recently weighed in on BLK. Argus reissued a “buy” rating and issued a $570.00 price target (up from $535.00) on shares of BlackRock in a research note on Wednesday, January 15th. Deutsche Bank dropped their price target on shares of BlackRock from $516.00 to $463.00 and set a “hold” rating for the company in a research report on Wednesday, March 18th. Citigroup dropped their price target on shares of BlackRock from $600.00 to $510.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Bank of America dropped their price target on shares of BlackRock from $485.00 to $383.00 and set a “buy” rating for the company in a research report on Monday. Finally, Morgan Stanley reiterated a “buy” rating and set a $582.00 price target on shares of BlackRock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and an average target price of $505.08.
Shares of BlackRock stock traded up $50.52 during trading on Thursday, hitting $451.90. 1,587,707 shares of the stock traded hands, compared to its average volume of 1,462,912. The stock has a market cap of $57.55 billion, a P/E ratio of 15.88, a PEG ratio of 1.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.48 and a current ratio of 2.48. BlackRock, Inc. has a twelve month low of $323.98 and a twelve month high of $576.81. The company has a fifty day moving average price of $482.45 and a two-hundred day moving average price of $480.76.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $8.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $7.69 by $0.65. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.81 billion. BlackRock had a return on equity of 13.86% and a net margin of 30.79%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted $6.08 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 28.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Thursday, March 5th were paid a dividend of $3.63 per share. This is an increase from BlackRock’s previous quarterly dividend of $3.30. This represents a $14.52 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Wednesday, March 4th. BlackRock’s dividend payout ratio is 50.98%.
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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