Stephens Inc. AR lifted its stake in BlackRock, Inc. (NYSE:BLK – Get Rating) by 17.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,536 shares of the asset manager’s stock after purchasing an additional 1,268 shares during the quarter. Stephens Inc. AR’s holdings in BlackRock were worth $6,523,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Column Capital Advisors LLC increased its holdings in shares of BlackRock by 28,992.4% during the 4th quarter. Column Capital Advisors LLC now owns 2,847,273 shares of the asset manager’s stock valued at $2,847,000 after purchasing an additional 2,837,486 shares in the last quarter. Norges Bank purchased a new position in shares of BlackRock during the 4th quarter valued at approximately $1,230,851,000. State Street Corp grew its stake in BlackRock by 3.0% in the 4th quarter. State Street Corp now owns 6,539,029 shares of the asset manager’s stock valued at $5,986,873,000 after acquiring an additional 192,641 shares during the period. Assenagon Asset Management S.A. grew its stake in BlackRock by 334.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 195,750 shares of the asset manager’s stock valued at $179,221,000 after acquiring an additional 150,647 shares during the period. Finally, Cantillon Capital Management LLC grew its stake in BlackRock by 124.1% in the 1st quarter. Cantillon Capital Management LLC now owns 229,279 shares of the asset manager’s stock valued at $175,208,000 after acquiring an additional 126,984 shares during the period. 93.81% of the stock is owned by hedge funds and other institutional investors.
BlackRock Stock Up 3.3 %
Shares of BLK opened at $643.32 on Thursday. The firm has a market cap of $97.46 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 3.26 and a beta of 1.26. BlackRock, Inc. has a 12-month low of $575.60 and a 12-month high of $973.16. The company’s 50-day moving average price is $625.79 and its 200 day moving average price is $696.68. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.39.
BlackRock Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Wednesday, September 7th will be paid a dividend of $4.88 per share. The ex-dividend date is Tuesday, September 6th. This represents a $19.52 dividend on an annualized basis and a yield of 3.03%. BlackRock’s dividend payout ratio (DPR) is presently 51.46%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on BLK. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock from $719.00 to $675.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 28th. Citigroup lowered their target price on shares of BlackRock from $1,035.00 to $900.00 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. Jefferies Financial Group began coverage on shares of BlackRock in a research note on Wednesday, April 13th. They set a “buy” rating and a $873.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of BlackRock from $747.00 to $725.00 in a research note on Wednesday, July 13th. Finally, Morgan Stanley reduced their price target on BlackRock from $801.00 to $773.00 and set an “overweight” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $794.08.
Insiders Place Their Bets
In other BlackRock news, President Robert Kapito sold 37,588 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the sale, the president now directly owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.06% of the company’s stock.
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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