Resources Management Corp CT ADV acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,385 shares of the asset manager’s stock, valued at approximately $6,856,000. BlackRock comprises about 1.3% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 26th biggest position.
A number of other hedge funds have also recently modified their holdings of BLK. Virtus ETF Advisers LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $27,000. Garrett Wealth Advisory Group LLC acquired a new position in BlackRock during the third quarter worth about $30,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $31,000. MRA Associates USA LLC purchased a new stake in shares of BlackRock in the second quarter valued at about $33,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of BlackRock in the second quarter valued at approximately $33,000. 81.36% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Gary Shedlin sold 3,995 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $490.96, for a total transaction of $1,961,385.20. Also, insider Jerkovic Milan 3,000,000 shares of BlackRock stock in a transaction dated Thursday, October 24th. Insiders have sold 6,095 shares of company stock worth $2,900,567 in the last 90 days. Insiders own 1.42% of the company’s stock.
Shares of BLK traded up $0.93 on Wednesday, hitting $486.69. 729,748 shares of the stock traded hands, compared to its average volume of 559,781. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $496.90. The stock’s 50 day moving average is $475.23 and its two-hundred day moving average is $451.43. The firm has a market capitalization of $76.40 billion, a P/E ratio of 18.07, a P/E/G ratio of 1.74 and a beta of 1.54. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.76.
BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 15th. The asset manager reported $7.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.95 by $0.20. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.69 billion. BlackRock had a net margin of 29.31% and a return on equity of 12.95%. BlackRock’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $7.52 EPS. Research analysts forecast that BlackRock, Inc. will post 27.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 49.02%.
BlackRock Company Profile
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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