Beutel Goodman & Co Ltd. Sells 6,398 Shares of BlackRock $BLK

Beutel Goodman & Co Ltd. decreased its holdings in shares of BlackRock (NYSE:BLK) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 240,141 shares of the asset manager’s stock after selling 6,398 shares during the quarter. Beutel Goodman & Co Ltd. owned approximately 0.15% of BlackRock worth $251,968,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BLK. Garde Capital Inc. raised its holdings in BlackRock by 200.0% in the 2nd quarter. Garde Capital Inc. now owns 27 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 18 shares during the period. Traub Capital Management LLC acquired a new stake in shares of BlackRock during the 2nd quarter worth $28,000. Whipplewood Advisors LLC increased its holdings in BlackRock by 107.1% in the 2nd quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after buying an additional 15 shares during the period. Game Plan Financial Advisors LLC raised its position in BlackRock by 100.0% during the first quarter. Game Plan Financial Advisors LLC now owns 30 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 15 shares in the last quarter. Finally, Creekmur Asset Management LLC lifted its position in shares of BlackRock by 87.5% during the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock worth $32,000 after buying an additional 14 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other BlackRock news, CFO Martin Small sold 1,258 shares of BlackRock stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $1,043.38, for a total transaction of $1,312,572.04. Following the completion of the sale, the chief financial officer owned 6,209 shares of the company’s stock, valued at approximately $6,478,346.42. The trade was a 16.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. Loop Capital set a $1,255.00 price objective on BlackRock in a report on Tuesday, October 21st. BMO Capital Markets raised their price objective on shares of BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Keefe, Bruyette & Woods raised their price target on BlackRock from $1,215.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Bank of America boosted their price objective on BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Argus increased their target price on shares of BlackRock from $1,165.00 to $1,330.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,302.59.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,075.11 on Friday. The company has a market capitalization of $166.80 billion, a P/E ratio of 27.64, a P/E/G ratio of 1.62 and a beta of 1.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.33 and a quick ratio of 3.33. The firm’s 50 day simple moving average is $1,101.74 and its two-hundred day simple moving average is $1,083.27. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share for the quarter, missing the consensus estimate of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 14.80%. The firm had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.22 billion. During the same quarter in the prior year, the business earned $11.46 EPS. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. Research analysts expect that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Friday, December 5th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.9%. BlackRock’s dividend payout ratio is presently 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.