Gabelli Funds LLC Has $11.20 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Gabelli Funds LLC lowered its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 44.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,200 shares of the asset manager’s stock after selling 13,210 shares during the period. Gabelli Funds LLC’s holdings in BlackRock were worth $11,196,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of BlackRock by 98,608.8% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 96,772,169 shares of the asset manager’s stock valued at $66,883,117,000 after buying an additional 96,674,131 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of BlackRock by 4.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,294,389 shares of the asset manager’s stock valued at $2,276,884,000 after buying an additional 135,871 shares during the last quarter. Morgan Stanley boosted its position in shares of BlackRock by 4.2% during the 4th quarter. Morgan Stanley now owns 3,174,621 shares of the asset manager’s stock valued at $2,249,634,000 after purchasing an additional 129,335 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of BlackRock by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 2,664,331 shares of the asset manager’s stock valued at $1,778,039,000 after purchasing an additional 41,280 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of BlackRock by 5.0% during the 2nd quarter. Fisher Asset Management LLC now owns 1,934,985 shares of the asset manager’s stock valued at $1,337,345,000 after purchasing an additional 92,560 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $720.92 on Tuesday. The company has a market cap of $107.24 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.22 and a beta of 1.28. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $781.77. The business has a 50 day moving average price of $652.37 and a 200-day moving average price of $676.96. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.33.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 13th. The asset manager reported $10.91 EPS for the quarter, beating analysts’ consensus estimates of $8.34 by $2.57. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.52 billion. BlackRock had a return on equity of 14.65% and a net margin of 30.66%. BlackRock’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $9.55 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post 36.44 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Thursday, December 7th will be given a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Wednesday, December 6th. BlackRock’s payout ratio is 56.10%.

Analyst Ratings Changes

Several brokerages recently commented on BLK. Bank of America cut their target price on BlackRock from $921.00 to $868.00 in a research report on Wednesday, October 4th. Morgan Stanley increased their price target on BlackRock from $836.00 to $897.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. StockNews.com assumed coverage on BlackRock in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Wells Fargo & Company cut their price target on BlackRock from $820.00 to $720.00 and set an “overweight” rating on the stock in a report on Wednesday, October 4th. Finally, Jefferies Financial Group cut their price target on BlackRock from $781.00 to $754.00 in a report on Tuesday, October 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $764.75.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 15,385 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $652.03, for a total transaction of $10,031,481.55. Following the completion of the sale, the chief executive officer now directly owns 435,260 shares of the company’s stock, valued at $283,802,577.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.96% of the stock is currently owned by company insiders.

BlackRock Company Profile

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.