BlackRock, Inc. (NYSE:BLK) Stock Holdings Decreased by LS Investment Advisors LLC

LS Investment Advisors LLC lessened its position in BlackRock, Inc. (NYSE:BLKFree Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,760 shares of the asset manager’s stock after selling 398 shares during the quarter. BlackRock makes up about 2.2% of LS Investment Advisors LLC’s holdings, making the stock its 12th biggest holding. LS Investment Advisors LLC’s holdings in BlackRock were worth $12,794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Norway Savings Bank raised its position in BlackRock by 62.2% during the fourth quarter. Norway Savings Bank now owns 1,338 shares of the asset manager’s stock valued at $1,086,000 after buying an additional 513 shares during the period. Everhart Financial Group Inc. grew its stake in BlackRock by 3.2% during the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares in the last quarter. Sterling Investment Counsel LLC increased its holdings in shares of BlackRock by 10.1% in the 4th quarter. Sterling Investment Counsel LLC now owns 630 shares of the asset manager’s stock valued at $511,000 after purchasing an additional 58 shares during the period. Independent Wealth Network Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth approximately $215,000. Finally, Rockline Wealth Management LLC acquired a new position in BlackRock in the 4th quarter valued at approximately $668,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Stephen Cohen sold 950 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the completion of the transaction, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Stephen Cohen sold 950 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now owns 4,437 shares of the company’s stock, valued at approximately $3,574,225.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the sale, the insider now directly owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock worth $71,864,028 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BLK shares. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. UBS Group upped their target price on BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. The Goldman Sachs Group lifted their price target on BlackRock from $719.00 to $793.00 and gave the company a “buy” rating in a report on Thursday, November 30th. BNP Paribas upgraded BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. cut shares of BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price for the company. in a research note on Friday, December 15th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $785.73.

Read Our Latest Research Report on BlackRock

BlackRock Stock Performance

NYSE BLK opened at $824.83 on Friday. The company’s fifty day moving average is $803.29 and its two-hundred day moving average is $739.60. The firm has a market capitalization of $122.85 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.82 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, beating the consensus estimate of $8.84 by $0.82. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm posted $8.93 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts forecast that BlackRock, Inc. will post 39.73 EPS for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Thursday, March 7th were given a $5.10 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.00. This represents a $20.40 annualized dividend and a yield of 2.47%. The ex-dividend date was Wednesday, March 6th. BlackRock’s dividend payout ratio (DPR) is 55.88%.

BlackRock Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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