Lansforsakringar Fondforvaltning AB publ Acquires 1,427 Shares of BlackRock $BLK

Lansforsakringar Fondforvaltning AB publ increased its holdings in BlackRock (NYSE:BLKFree Report) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,274 shares of the asset manager’s stock after acquiring an additional 1,427 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in BlackRock were worth $64,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Pacifica Partners Inc. lifted its holdings in shares of BlackRock by 450.0% during the third quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 18 shares during the last quarter. TruNorth Capital Management LLC grew its stake in shares of BlackRock by 1,000.0% in the 3rd quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock worth $26,000 after buying an additional 20 shares during the last quarter. Traub Capital Management LLC bought a new position in BlackRock during the 2nd quarter valued at approximately $28,000. Whipplewood Advisors LLC raised its stake in BlackRock by 107.1% during the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares during the last quarter. Finally, Creekmur Asset Management LLC boosted its holdings in BlackRock by 87.5% in the second quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after acquiring an additional 14 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,093.57 on Friday. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $1,093.67 and a 200-day moving average price of $1,104.88. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The firm has a market capitalization of $169.67 billion, a PE ratio of 30.87, a P/E/G ratio of 1.37 and a beta of 1.47.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, beating analysts’ consensus estimates of $12.55 by $0.61. BlackRock had a net margin of 22.93% and a return on equity of 15.14%. The company had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.80 billion. During the same quarter in the prior year, the firm earned $11.93 earnings per share. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, equities research analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be paid a $5.73 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.21. The ex-dividend date is Friday, March 6th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.1%. BlackRock’s dividend payout ratio (DPR) is 58.84%.

Insider Transactions at BlackRock

In related news, CFO Martin Small sold 27,047 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $1,171.14, for a total transaction of $31,675,823.58. Following the completion of the sale, the chief financial officer owned 10,557 shares in the company, valued at approximately $12,363,724.98. This represents a 71.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 5,293 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,084.22, for a total value of $5,738,776.46. Following the completion of the transaction, the chief operating officer directly owned 46,185 shares in the company, valued at approximately $50,074,700.70. This represents a 10.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 109,967 shares of company stock worth $122,487,380. 1.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

BLK has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,296.00 to $1,380.00 in a research report on Thursday, January 15th. UBS Group set a $1,280.00 target price on shares of BlackRock in a report on Friday, January 16th. Freedom Capital upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 23rd. Bank of America raised their price target on shares of BlackRock from $1,456.00 to $1,464.00 in a research report on Wednesday, December 10th. Finally, BNP Paribas Exane upped their price objective on BlackRock from $1,290.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,311.11.

Read Our Latest Analysis on BLK

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About BlackRock

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

See Also

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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