APG Asset Management N.V. Purchases 564 Shares of BlackRock $BLK

APG Asset Management N.V. grew its position in shares of BlackRock (NYSE:BLKFree Report) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,728 shares of the asset manager’s stock after buying an additional 564 shares during the quarter. APG Asset Management N.V. owned 0.07% of BlackRock worth $122,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in 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% during the 2nd quarter. Geode Capital Management LLC now owns 3,143,429 shares of the asset manager’s stock worth $3,281,641,000 after purchasing an additional 34,049 shares during the period. Norges Bank purchased a new position in shares of BlackRock in the 2nd quarter worth about $2,644,007,000. Franklin Resources Inc. boosted its holdings in shares of BlackRock by 72.5% in the 2nd quarter. Franklin Resources Inc. now owns 2,005,358 shares of the asset manager’s stock worth $2,104,122,000 after buying an additional 842,901 shares during the last quarter. Finally, Laurel Wealth Advisors LLC grew its position 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 buying an additional 1,704,280 shares during the period. 80.69% of the stock is owned by institutional investors.

More BlackRock News

Here are the key news stories impacting BlackRock this week:

Insider Activity

In other BlackRock news, CFO Martin Small sold 27,047 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $1,171.14, for a total value of $31,675,823.58. Following the completion of the transaction, the chief financial officer directly owned 10,557 shares of the company’s stock, valued at $12,363,724.98. This trade represents a 71.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the completion of the transaction, the director directly owned 61,894 shares in the company, valued at approximately $69,630,750. The trade was a 24.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,577 shares of company stock valued at $125,311,821 over the last ninety days. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on BLK. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of BlackRock in a research report on Monday, December 29th. Morgan Stanley lifted their price target on shares of BlackRock from $1,514.00 to $1,550.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. JPMorgan Chase & Co. upped their price objective 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 raised their target price on BlackRock from $1,290.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Finally, CICC Research boosted their target price on BlackRock from $1,000.00 to $1,250.00 in a research note on Tuesday, February 3rd. 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’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus price target of $1,311.11.

View Our Latest Stock Report on BLK

BlackRock Trading Down 2.5%

NYSE:BLK opened at $1,062.70 on Friday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The stock’s fifty day moving average price is $1,094.88 and its two-hundred day moving average price is $1,103.15. 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 company has a market cap of $164.88 billion, a P/E ratio of 30.00, a P/E/G ratio of 1.33 and a beta of 1.47.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.55 by $0.61. BlackRock had a return on equity of 15.14% and a net margin of 22.93%.The company 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 company posted $11.93 EPS. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be given a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from BlackRock’s previous quarterly dividend of $5.21. The ex-dividend date is Friday, March 6th. BlackRock’s dividend payout ratio (DPR) is 58.84%.

About BlackRock

(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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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