Candriam Luxembourg S.C.A. raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,745 shares of the asset manager’s stock after acquiring an additional 76 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in BlackRock were worth $5,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Carmichael Hill & Associates Inc. bought a new position in shares of BlackRock in the fourth quarter worth $27,000. Garrett Wealth Advisory Group LLC bought a new position in shares of BlackRock in the third quarter worth $30,000. Vista Private Wealth Partners. LLC bought a new position in shares of BlackRock in the third quarter worth $33,000. Asset Dedication LLC bought a new position in shares of BlackRock in the third quarter worth $33,000. Finally, CFM Wealth Partners LLC bought a new position in shares of BlackRock in the fourth quarter worth $33,000. 81.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:BLK opened at $565.94 on Friday. BlackRock, Inc. has a 52-week low of $403.54 and a 52-week high of $576.81. The firm has a fifty day moving average of $527.75 and a 200 day moving average of $474.04. The firm has a market capitalization of $87.36 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.64 and a beta of 1.53. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.33 and a current ratio of 2.33.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Thursday, March 5th will be given a $3.63 dividend. The ex-dividend date is Wednesday, March 4th. This is a positive change from BlackRock’s previous quarterly dividend of $3.30. This represents a $14.52 annualized dividend and a yield of 2.57%. BlackRock’s payout ratio is 46.35%.
In other BlackRock news, Director Mark Mccombe sold 1,336 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $534.05, for a total transaction of $713,490.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Richard Kushel sold 2,276 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $535.21, for a total transaction of $1,218,137.96. The disclosure for this sale can be found here. Insiders sold 62,081 shares of company stock valued at $33,360,947 over the last quarter. 1.42% of the stock is owned by company insiders.
BLK has been the topic of several research analyst reports. Citigroup upped their price target on shares of BlackRock from $565.00 to $580.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Deutsche Bank cut shares of BlackRock from a “buy” rating to a “hold” rating and decreased their price target for the stock from $585.00 to $584.00 in a report on Friday. ValuEngine cut shares of BlackRock from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Wells Fargo & Co reaffirmed a “buy” rating on shares of BlackRock in a report on Sunday, January 19th. Finally, Morgan Stanley upped their price target on shares of BlackRock from $603.00 to $621.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $547.33.
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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