Lingohr Asset Management GmbH Acquires New Stake in BlackRock $BLK

Lingohr Asset Management GmbH bought a new position in BlackRock (NYSE:BLKFree Report) during the third quarter, HoldingsChannel.com reports. The fund bought 600 shares of the asset manager’s stock, valued at approximately $700,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock valued at $1,615,000 after buying an additional 296 shares in the last quarter. Bison Wealth LLC raised its stake in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock valued at $1,078,000 after acquiring an additional 17 shares in the last quarter. Altus Wealth Group LLC purchased a new stake in shares of BlackRock in the second quarter valued at approximately $215,000. PFG Investments LLC grew its stake in BlackRock by 12.9% in the second quarter. PFG Investments LLC now owns 770 shares of the asset manager’s stock worth $808,000 after purchasing an additional 88 shares in the last quarter. Finally, Pure Financial Advisors LLC purchased a new position in BlackRock during the 2nd quarter worth $384,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at BlackRock

In other BlackRock news, CFO Martin Small sold 27,047 shares of the business’s 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 sale, the chief financial officer 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the transaction, the director owned 61,894 shares in the company, valued at $69,630,750. The trade was a 24.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,305 shares of company stock worth $55,488,396 in the last 90 days. Insiders own 1.98% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $1,117.52 on Friday. The company has a 50 day moving average of $1,088.14 and a two-hundred day moving average of $1,107.67. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.34. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,219.94. The company has a market cap of $173.38 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 EPS for the quarter, beating the consensus estimate of $12.55 by $0.61. The firm had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.80 billion. BlackRock had a return on equity of 15.14% and a net margin of 22.93%.The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $11.93 EPS. As a group, analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be issued a $5.73 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.21. This represents a $22.92 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. BlackRock’s dividend payout ratio is 58.84%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on BlackRock from $1,310.00 to $1,340.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Barclays upped their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Morgan Stanley increased their target price on shares of BlackRock from $1,514.00 to $1,550.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Bank of America boosted their price target on shares of BlackRock from $1,456.00 to $1,464.00 in a report on Wednesday, December 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,313.00 price target on shares of BlackRock in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,314.71.

View Our Latest Stock Report on BlackRock

About BlackRock

(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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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