American Century Companies Inc. Has $301.63 Million Holdings in BlackRock $BLK

American Century Companies Inc. cut its holdings in shares of BlackRock (NYSE:BLKFree Report) by 13.1% during the third quarter, Holdings Channel reports. The fund owned 258,712 shares of the asset manager’s stock after selling 38,890 shares during the period. American Century Companies Inc.’s holdings in BlackRock were worth $301,625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BLK. Norges Bank bought a new stake in shares of BlackRock during the second quarter worth $2,644,007,000. Laurel Wealth Advisors LLC grew its holdings in BlackRock by 105,267.4% during 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. Franklin Resources Inc. grew its holdings in BlackRock by 72.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock worth $2,104,122,000 after acquiring an additional 842,901 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in BlackRock by 1,962.0% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 792,494 shares of the asset manager’s stock valued at $831,524,000 after acquiring an additional 754,060 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of BlackRock by 29,043.2% in the third quarter. Parkside Financial Bank & Trust now owns 245,094 shares of the asset manager’s stock worth $285,748,000 after acquiring an additional 244,253 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLK. Jefferies Financial Group reissued a “buy” rating and set a $1,351.00 price target on shares of BlackRock in a research note on Friday, January 16th. Morgan Stanley upped their price objective on BlackRock from $1,514.00 to $1,550.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. JPMorgan Chase & Co. lifted their target price on BlackRock from $1,244.00 to $1,267.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. Bank of America boosted their target price on BlackRock from $1,456.00 to $1,464.00 in a research report on Wednesday, December 10th. Finally, CICC Research raised their price target on BlackRock from $1,000.00 to $1,250.00 in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,311.11.

Get Our Latest Stock Report on BLK

Insider Activity

In other BlackRock news, COO Robert L. Goldstein sold 54,190 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $1,087.29, for a total transaction of $58,920,245.10. Following the completion of the transaction, the chief operating officer owned 51,478 shares of the company’s stock, valued at approximately $55,971,514.62. The trade was a 51.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Martin Small sold 27,047 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $1,171.14, for a total transaction of $31,675,823.58. Following the completion of the transaction, the chief financial officer directly owned 10,557 shares of the company’s stock, valued at approximately $12,363,724.98. The trade was a 71.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 112,577 shares of company stock valued at $125,311,821 in the last 90 days. 1.98% of the stock is owned by corporate insiders.

Key Stories Impacting BlackRock

Here are the key news stories impacting BlackRock this week:

BlackRock Stock Down 2.5%

NYSE:BLK opened at $1,062.70 on Friday. The firm has a market capitalization of $164.88 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.47. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average price is $1,094.88 and its two-hundred day moving average price is $1,103.55. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.55 by $0.61. BlackRock had a return on equity of 15.14% and a net margin of 22.93%.The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.80 billion. During the same period last year, the firm posted $11.93 earnings per share. The business’s revenue was up 23.4% on a year-over-year basis. Equities research analysts expect that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be issued a dividend of $5.73 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.21. The ex-dividend date of this dividend is Friday, March 6th. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. BlackRock’s payout ratio is currently 58.84%.

BlackRock Company Profile

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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