Bahl & Gaynor Inc. Has $57.86 Million Stock Holdings in BlackRock $BLK

Bahl & Gaynor Inc. reduced its stake in shares of BlackRock (NYSE:BLKFree Report) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 49,631 shares of the asset manager’s stock after selling 7,836 shares during the period. Bahl & Gaynor Inc.’s holdings in BlackRock were worth $57,863,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of BlackRock by 1.7% during the second quarter. Vanguard Group Inc. now owns 13,991,264 shares of the asset manager’s stock worth $14,680,334,000 after acquiring an additional 227,192 shares during the period. Geode Capital Management LLC raised its stake in shares of BlackRock by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock valued at $3,281,641,000 after purchasing an additional 34,049 shares during the period. Norges Bank acquired a new stake in shares of BlackRock in the 2nd quarter valued at about $2,644,007,000. Franklin Resources Inc. lifted its holdings in shares of BlackRock by 72.5% in 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 purchasing an additional 842,901 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its holdings in shares of 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 worth $1,789,915,000 after buying an additional 1,704,280 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other news, CFO Martin Small sold 27,047 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $1,171.14, for a total transaction of $31,675,823.58. Following the completion of the sale, the chief financial officer owned 10,557 shares in the company, valued at $12,363,724.98. The trade was a 71.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen Cohen sold 225 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $1,069.56, for a total value of $240,651.00. Following the transaction, the director owned 5,661 shares in the company, valued at approximately $6,054,779.16. This trade represents a 3.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 111,319 shares of company stock worth $123,999,249. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

NYSE:BLK opened at $1,062.70 on Monday. BlackRock has a 12-month low of $773.74 and a 12-month high of $1,219.94. The firm has a market capitalization of $164.88 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 1.33 and a beta of 1.48. The stock’s 50 day moving average price is $1,094.88 and its two-hundred day moving average price is $1,102.75. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, topping analysts’ consensus estimates of $12.55 by $0.61. BlackRock had a return on equity of 14.78% and a net margin of 22.93%.The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.80 billion. During the same period in the previous year, the firm earned $11.93 EPS. The firm’s revenue was up 23.4% compared to the same quarter last year. On average, analysts anticipate that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be paid a dividend of $5.73 per share. The ex-dividend date is Friday, March 6th. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from BlackRock’s previous quarterly dividend of $5.21. BlackRock’s dividend payout ratio is 58.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on BlackRock from $1,244.00 to $1,267.00 and gave the company a “neutral” rating in a research note on Friday, January 9th. BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,290.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Freedom Capital raised shares of BlackRock from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,296.00 to $1,380.00 in a research report on Thursday, January 15th. Finally, TD Cowen cut BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,311.11.

Read Our Latest Report on BlackRock

Trending Headlines about BlackRock

Here are the key news stories impacting BlackRock this week:

BlackRock Company Profile

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

Featured Stories

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock (NYSE:BLKFree Report).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.