Lake Street Advisors Group LLC bought a new position in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 523 shares of the asset manager’s stock, valued at approximately $269,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of BLK. BlackRock Inc. boosted its stake in BlackRock by 4.4% in the 4th quarter. BlackRock Inc. now owns 7,255,797 shares of the asset manager’s stock worth $3,727,377,000 after purchasing an additional 307,213 shares during the period. Fred Alger Management Inc. boosted its stake in BlackRock by 2,347.6% in the 4th quarter. Fred Alger Management Inc. now owns 185,965 shares of the asset manager’s stock worth $95,532,000 after purchasing an additional 178,367 shares during the period. Stifel Financial Corp boosted its stake in BlackRock by 2,450.2% in the 3rd quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock worth $81,105,000 after purchasing an additional 174,554 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in BlackRock by 31.6% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 442,328 shares of the asset manager’s stock worth $227,228,000 after purchasing an additional 106,315 shares during the period. Finally, Mackenzie Financial Corp bought a new position in BlackRock in the 4th quarter worth about $53,310,000. Institutional investors and hedge funds own 84.74% of the company’s stock.
BlackRock, Inc. (BLK) opened at $539.42 on Friday. The firm has a market capitalization of $90,670.66, a PE ratio of 17.80, a P/E/G ratio of 1.52 and a beta of 1.71. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.93. BlackRock, Inc. has a 1-year low of $368.00 and a 1-year high of $594.52.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th were issued a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date was Tuesday, March 6th. BlackRock’s dividend payout ratio (DPR) is currently 38.02%.
A number of analysts have recently issued reports on BLK shares. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target for the company in a research report on Thursday, January 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $640.00 price target on shares of BlackRock in a research report on Wednesday, March 14th. Jefferies Group lifted their price target on BlackRock to $565.00 and gave the company a “hold” rating in a research report on Monday, January 15th. Citigroup lifted their price target on BlackRock to $625.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo reiterated a “market perform” rating and set a $555.00 price target (up previously from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. BlackRock has a consensus rating of “Hold” and an average target price of $567.15.
In other BlackRock news, Director Ryan Stork sold 7,136 shares of BlackRock stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $543.50, for a total value of $3,878,416.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 5,000 shares of BlackRock stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $558.00, for a total value of $2,790,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,961 shares of company stock worth $11,375,444. 1.86% of the stock is currently owned by insiders.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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