BLI Banque de Luxembourg Investments Acquires New Holdings in BlackRock $BLK

BLI Banque de Luxembourg Investments bought a new position in shares of BlackRock (NYSE:BLK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,400 shares of the asset manager’s stock, valued at approximately $4,609,000.

A number of other institutional investors also recently modified their holdings of BLK. Norges Bank acquired a new position in BlackRock in the 2nd quarter valued at $2,644,007,000. Laurel Wealth Advisors LLC boosted its holdings in BlackRock by 105,267.4% during the second quarter. Laurel Wealth Advisors LLC now owns 1,705,899 shares of the asset manager’s stock valued at $1,789,915,000 after acquiring an additional 1,704,280 shares during the period. Franklin Resources Inc. boosted its holdings in BlackRock by 72.5% during the second quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock valued at $2,104,122,000 after acquiring an additional 842,901 shares during the period. Royal Bank of Canada increased its stake in shares of BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock worth $1,243,059,000 after purchasing an additional 555,098 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of BlackRock by 2.9% in the first quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the period. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a report on Tuesday, November 25th. Bank of America increased their price objective on BlackRock from $1,394.00 to $1,456.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. TD Cowen boosted their target price on shares of BlackRock from $1,301.00 to $1,407.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Evercore ISI increased their price target on shares of BlackRock from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,302.59.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the sale, the director owned 7,205 shares of the company’s stock, valued at approximately $8,394,113.20. This represents a 62.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.98% of the company’s stock.

BlackRock Trading Up 0.8%

BLK stock opened at $1,048.41 on Monday. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $1,107.94 and its 200-day moving average is $1,082.60. The firm has a market cap of $162.66 billion, a P/E ratio of 26.96, a P/E/G ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.22 billion. During the same quarter last year, the business earned $11.46 EPS. BlackRock’s quarterly revenue was up 25.2% compared to the same quarter last year. Equities analysts anticipate that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, December 5th. BlackRock’s payout ratio is currently 53.59%.

BlackRock Company Profile

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.