Russell Investments Group Ltd. Has $35.90 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Russell Investments Group Ltd. cut its holdings in BlackRock, Inc. (NYSE:BLKGet Rating) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,826 shares of the asset manager’s stock after selling 6,266 shares during the quarter. Russell Investments Group Ltd.’s holdings in BlackRock were worth $35,904,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wagner Wealth Management LLC acquired a new position in shares of BlackRock during the second quarter worth approximately $25,000. Karp Capital Management Corp acquired a new position in shares of BlackRock during the third quarter worth approximately $31,000. Charter Oak Capital Management LLC acquired a new position in shares of BlackRock during the second quarter worth approximately $33,000. Selway Asset Management bought a new stake in BlackRock during the third quarter worth $33,000. Finally, Coston McIsaac & Partners bought a new stake in BlackRock during the second quarter worth $34,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Credit Suisse Group upped their price target on BlackRock from $540.00 to $680.00 and gave the stock a “neutral” rating in a report on Thursday, January 12th. StockNews.com started coverage on BlackRock in a report on Wednesday, October 12th. They set a “hold” rating for the company. UBS Group lowered BlackRock from a “buy” rating to a “neutral” rating and decreased their target price for the company from $700.00 to $585.00 in a research report on Tuesday, October 11th. The Goldman Sachs Group boosted their price target on shares of BlackRock from $741.00 to $825.00 and gave the stock a “buy” rating in a report on Wednesday, January 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $716.00 to $666.00 and set an “overweight” rating on the stock in a research report on Friday, October 14th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $738.80.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 1,075 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $749.89, for a total transaction of $806,131.75. Following the sale, the director now owns 8,682 shares of the company’s stock, valued at approximately $6,510,544.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark Wiedman sold 1,075 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $749.89, for a total transaction of $806,131.75. Following the sale, the director now owns 8,682 shares of the company’s stock, valued at approximately $6,510,544.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rachel Lord sold 3,950 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $773.41, for a total transaction of $3,054,969.50. Following the completion of the transaction, the director now directly owns 8,319 shares in the company, valued at approximately $6,433,997.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,935 shares of company stock valued at $44,866,323. Company insiders own 1.06% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $752.07 on Wednesday. The company’s 50 day moving average is $722.48 and its 200-day moving average is $672.85. BlackRock, Inc. has a 12-month low of $503.12 and a 12-month high of $831.32. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.33. The firm has a market cap of $112.96 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 0.78 and a beta of 1.27.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 23rd. Investors of record on Wednesday, December 7th were issued a dividend of $4.88 per share. This represents a $19.52 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Tuesday, December 6th. BlackRock’s dividend payout ratio (DPR) is presently 57.50%.

BlackRock Profile

(Get Rating)

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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