IFM Investors Pty Ltd boosted its stake in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 24.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,950 shares of the asset manager’s stock after acquiring an additional 4,900 shares during the quarter. IFM Investors Pty Ltd’s holdings in BlackRock were worth $19,066,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Steward Financial Group LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at approximately $27,000. Western Pacific Wealth Management LP purchased a new position in BlackRock in the 4th quarter valued at approximately $27,000. Sierra Capital LLC purchased a new position in BlackRock in the 4th quarter valued at approximately $29,000. Industrial Alliance Investment Management Inc. purchased a new position in BlackRock in the 4th quarter valued at approximately $29,000. Finally, Confluence Wealth Services Inc. purchased a new position in BlackRock in the 4th quarter valued at approximately $35,000. 93.81% of the stock is owned by institutional investors and hedge funds.
BlackRock Trading Up 1.4 %
Shares of BLK opened at $669.18 on Monday. The stock’s 50-day moving average is $628.50 and its two-hundred day moving average is $691.11. The stock has a market cap of $101.38 billion, a PE ratio of 17.64, a P/E/G ratio of 3.26 and a beta of 1.26. BlackRock, Inc. has a 12 month low of $575.60 and a 12 month high of $973.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.33 and a quick ratio of 4.33.
BlackRock Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Wednesday, September 7th will be paid a dividend of $4.88 per share. This represents a $19.52 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Tuesday, September 6th. BlackRock’s dividend payout ratio is presently 51.46%.
Analyst Upgrades and Downgrades
BLK has been the subject of several recent research reports. Morgan Stanley dropped their price target on BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. JPMorgan Chase & Co. dropped their price target on BlackRock from $902.00 to $729.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Keefe, Bruyette & Woods dropped their price target on BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a research report on Tuesday, June 28th. Jefferies Financial Group started coverage on BlackRock in a research report on Wednesday, April 13th. They set a “buy” rating and a $873.00 price target for the company. Finally, The Goldman Sachs Group lowered their price objective on BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $794.08.
Insiders Place Their Bets
In other news, President Robert Kapito sold 37,588 shares of BlackRock stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $632.88, for a total transaction of $23,788,693.44. Following the sale, the president now directly owns 226,680 shares of the company’s stock, valued at $143,461,238.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.06% of the stock is currently owned by insiders.
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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