Pacer Advisors Inc. Sells 8,001 Shares of BlackRock, Inc. (NYSE:BLK)

Pacer Advisors Inc. cut its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 46.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,189 shares of the asset manager’s stock after selling 8,001 shares during the period. Pacer Advisors Inc.’s holdings in BlackRock were worth $7,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BLK. State Street Corp raised its holdings in shares of BlackRock by 2.3% in the 2nd quarter. State Street Corp now owns 6,152,336 shares of the asset manager’s stock valued at $4,252,126,000 after acquiring an additional 138,455 shares in the last quarter. Morgan Stanley increased its position in shares of BlackRock by 3.2% in the third quarter. Morgan Stanley now owns 3,369,035 shares of the asset manager’s stock worth $2,178,048,000 after purchasing an additional 104,844 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in BlackRock by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,329,550 shares of the asset manager’s stock valued at $2,148,586,000 after purchasing an additional 35,161 shares in the last quarter. FMR LLC lifted its position in BlackRock by 22.0% during the third quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after purchasing an additional 379,631 shares during the last quarter. Finally, Northern Trust Corp grew its stake in BlackRock by 0.8% in the 1st quarter. Northern Trust Corp now owns 1,915,197 shares of the asset manager’s stock worth $1,463,536,000 after buying an additional 15,290 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Up 1.9 %

Shares of BlackRock stock opened at $835.48 on Thursday. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $804.21 and its 200 day moving average is $742.03. The company has a market cap of $124.44 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.80 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $0.82. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $8.93 EPS. Research analysts anticipate that BlackRock, Inc. will post 39.73 EPS for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Thursday, March 7th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.44%. This is a positive change from BlackRock’s previous quarterly dividend of $5.00. The ex-dividend date of this dividend was Wednesday, March 6th. BlackRock’s dividend payout ratio is currently 55.88%.

Insiders Place Their Bets

In other news, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the sale, the chief executive officer now directly owns 414,146 shares in the company, valued at approximately $335,425,128.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the sale, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,511 shares of company stock worth $71,864,028. Company insiders own 1.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BLK. The Goldman Sachs Group increased their target price on BlackRock from $719.00 to $793.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. UBS Group raised their price objective on BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. downgraded BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price for the company. in a research report on Friday, December 15th. BNP Paribas raised shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target on the stock in a research note on Tuesday, December 12th. Finally, TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $785.73.

Get Our Latest Research Report on BlackRock

BlackRock Company Profile

(Free Report)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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