BlackRock $BLK Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its holdings in BlackRock (NYSE:BLK) by 32.8% during the second quarter, Holdings Channel.com reports. The firm owned 15,543 shares of the asset manager’s stock after purchasing an additional 3,836 shares during the period. Elo Mutual Pension Insurance Co’s holdings in BlackRock were worth $16,308,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in BlackRock by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 13,991,264 shares of the asset manager’s stock valued at $14,680,334,000 after buying an additional 227,192 shares during the period. Geode Capital Management LLC increased its position in shares of BlackRock by 1.1% during the second quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock valued at $3,281,641,000 after acquiring an additional 34,049 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of BlackRock by 72.5% in the 2nd quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock valued at $2,104,122,000 after acquiring an additional 842,901 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in shares of BlackRock by 105,267.4% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,705,899 shares of the asset manager’s stock worth $1,789,915,000 after acquiring an additional 1,704,280 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after acquiring an additional 555,098 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the completion of the transaction, the director owned 7,205 shares in the company, valued at $8,394,113.20. The trade was a 62.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BLK has been the subject of several research reports. TD Cowen lifted their target price on shares of BlackRock from $1,301.00 to $1,407.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. BNP Paribas Exane lifted their price objective on BlackRock from $1,160.00 to $1,265.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Citigroup boosted their price objective on BlackRock from $1,200.00 to $1,350.00 and gave the company a “buy” rating in a report on Monday, September 29th. Jefferies Financial Group raised their target price on BlackRock from $1,196.00 to $1,325.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $1,093.00 to $1,242.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,302.53.

BlackRock Trading Up 0.3%

NYSE:BLK opened at $1,018.11 on Tuesday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The firm has a market cap of $157.96 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.48. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $1,115.30 and a 200 day moving average price of $1,080.10.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). The company had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.BlackRock’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter last year, the company earned $11.46 EPS. Sell-side analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Friday, December 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $20.84 annualized dividend and a yield of 2.0%. BlackRock’s dividend payout ratio (DPR) is 53.59%.

BlackRock 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.