LS Investment Advisors LLC lowered its position in BlackRock, Inc. (NYSE:BLK) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,834 shares of the asset manager’s stock after selling 1,732 shares during the quarter. BlackRock accounts for approximately 0.8% of LS Investment Advisors LLC’s investment portfolio, making the stock its 26th largest position. LS Investment Advisors LLC’s holdings in BlackRock were worth $11,327,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in BlackRock by 1.8% in the third quarter. Capital World Investors now owns 8,353,670 shares of the asset manager’s stock valued at $3,937,335,000 after acquiring an additional 148,805 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in BlackRock by 51,763.3% in the third quarter. Rehmann Capital Advisory Group now owns 1,084,461 shares of the asset manager’s stock valued at $2,300,000 after acquiring an additional 1,082,370 shares during the last quarter. Capital International Investors bought a new stake in BlackRock in the third quarter valued at approximately $477,939,000. Franklin Resources Inc. boosted its holdings in BlackRock by 0.5% in the third quarter. Franklin Resources Inc. now owns 741,134 shares of the asset manager’s stock valued at $349,319,000 after acquiring an additional 3,976 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in BlackRock by 1.2% in the third quarter. Legal & General Group Plc now owns 539,703 shares of the asset manager’s stock valued at $254,385,000 after acquiring an additional 6,523 shares during the last quarter. 82.17% of the stock is owned by institutional investors.
Several brokerages recently commented on BLK. ValuEngine upgraded BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Jefferies Financial Group upgraded BlackRock from a “hold” rating to a “buy” rating and set a $405.36 target price on the stock in a report on Tuesday, January 29th. Credit Suisse Group reduced their target price on BlackRock from $573.00 to $529.00 and set an “outperform” rating on the stock in a report on Monday, January 14th. Morgan Stanley set a $515.00 target price on BlackRock and gave the company a “buy” rating in a report on Friday. Finally, Bank of America reiterated a “buy” rating and issued a $478.00 target price (down from $525.00) on shares of BlackRock in a report on Thursday, December 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $503.03.
In other BlackRock news, insider Mark Mccombe sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $417.04, for a total transaction of $1,251,120.00. Following the transaction, the insider now directly owns 30,543 shares in the company, valued at approximately $12,737,652.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Laurence Fink sold 30,832 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $418.32, for a total value of $12,897,642.24. The disclosure for this sale can be found here. Insiders have sold a total of 86,929 shares of company stock worth $36,214,650 over the last 90 days. Company insiders own 1.75% of the company’s stock.
BlackRock stock opened at $411.76 on Friday. The company has a market cap of $64.94 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. BlackRock, Inc. has a 52-week low of $360.79 and a 52-week high of $578.80. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.76.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 16th. The asset manager reported $6.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.35 by ($0.27). The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.47 billion. BlackRock had a return on equity of 13.53% and a net margin of 30.32%. BlackRock’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.24 earnings per share. As a group, sell-side analysts forecast that BlackRock, Inc. will post 25.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.21%. This is a boost from BlackRock’s previous quarterly dividend of $3.13. The ex-dividend date is Tuesday, March 5th. BlackRock’s dividend payout ratio is presently 46.49%.
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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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