BlackRock, Inc. (NYSE:BLK) Shares Acquired by Norden Group LLC

Norden Group LLC boosted its position in BlackRock, Inc. (NYSE:BLKFree Report) by 38.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 648 shares of the asset manager’s stock after acquiring an additional 180 shares during the period. Norden Group LLC’s holdings in BlackRock were worth $540,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Abacus Planning Group Inc. lifted its position in BlackRock by 4.0% during the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock worth $271,000 after buying an additional 13 shares during the period. Knuff & Co LLC boosted its position in shares of BlackRock by 48.1% in the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock worth $32,000 after acquiring an additional 13 shares during the last quarter. Everhart Financial Group Inc. grew its holdings in BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 14 shares during the period. Spreng Capital Management Inc. raised its stake in BlackRock by 1.1% during the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock worth $1,079,000 after purchasing an additional 14 shares during the period. Finally, Accurate Wealth Management LLC boosted its holdings in shares of BlackRock by 1.4% in the 1st quarter. Accurate Wealth Management LLC now owns 1,007 shares of the asset manager’s stock valued at $840,000 after purchasing an additional 14 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares in the company, valued at $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

NYSE:BLK opened at $812.00 on Thursday. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The stock has a market cap of $120.66 billion, a P/E ratio of 20.64, a PEG ratio of 1.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32. The firm has a 50-day moving average of $784.68 and a two-hundred day moving average of $792.69.

BlackRock (NYSE:BLKGet Free Report) last posted its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. BlackRock’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $7.93 EPS. On average, research analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, June 7th were issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.51%. The ex-dividend date was Friday, June 7th. BlackRock’s dividend payout ratio is currently 51.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BLK shares. UBS Group dropped their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $915.00 price objective on shares of BlackRock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen decreased their price objective on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research note on Monday. Finally, Morgan Stanley raised their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $845.67.

Check Out Our Latest 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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