Los Angeles Capital Management LLC Has $16.98 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Los Angeles Capital Management LLC lifted its stake in BlackRock, Inc. (NYSE:BLKGet Rating) by 6.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,225 shares of the asset manager’s stock after purchasing an additional 1,432 shares during the quarter. Los Angeles Capital Management LLC’s holdings in BlackRock were worth $16,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp boosted its position in shares of BlackRock by 3.0% in the 4th quarter. State Street Corp now owns 6,539,029 shares of the asset manager’s stock valued at $5,986,873,000 after purchasing an additional 192,641 shares during the period. Capital International Investors boosted its position in BlackRock by 2.2% during the 4th quarter. Capital International Investors now owns 3,288,052 shares of the asset manager’s stock worth $3,010,396,000 after acquiring an additional 71,631 shares during the period. Column Capital Advisors LLC boosted its position in BlackRock by 28,992.4% during the 4th quarter. Column Capital Advisors LLC now owns 2,847,273 shares of the asset manager’s stock worth $2,847,000 after acquiring an additional 2,837,486 shares during the period. Geode Capital Management LLC boosted its position in BlackRock by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 2,300,304 shares of the asset manager’s stock worth $2,099,650,000 after acquiring an additional 66,107 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in BlackRock by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,016,362 shares of the asset manager’s stock worth $1,846,102,000 after acquiring an additional 68,493 shares during the period. Institutional investors and hedge funds own 93.81% of the company’s stock.

BlackRock Stock Down 0.0 %

Shares of BLK stock opened at $695.93 on Friday. The stock’s 50 day simple moving average is $633.39 and its 200 day simple moving average is $687.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.33 and a current ratio of 4.33. BlackRock, Inc. has a twelve month low of $575.60 and a twelve month high of $973.16. The company has a market capitalization of $105.43 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 3.65 and a beta of 1.25.

BlackRock (NYSE:BLKGet Rating) last issued its quarterly earnings data on Friday, July 15th. The asset manager reported $7.36 earnings per share for the quarter, missing analysts’ consensus estimates of $7.94 by ($0.58). BlackRock had a net margin of 30.12% and a return on equity of 15.72%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the business posted $10.03 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. As a group, research analysts predict that BlackRock, Inc. will post 33.91 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Wednesday, September 7th will be given a $4.88 dividend. This represents a $19.52 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Tuesday, September 6th. BlackRock’s dividend payout ratio is currently 51.46%.

Insider Transactions at BlackRock

In other news, President Robert Kapito sold 37,588 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the sale, the president now owns 226,680 shares in the company, valued at $143,461,238.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other BlackRock news, President Robert Kapito sold 37,588 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $632.88, for a total value of $23,788,693.44. Following the completion of the sale, the president now directly owns 226,680 shares of the company’s stock, valued at approximately $143,461,238.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 44,500 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $684.61, for a total transaction of $30,465,145.00. Following the completion of the sale, the chief executive officer now directly owns 563,771 shares of the company’s stock, valued at $385,963,264.31. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BLK shares. BMO Capital Markets decreased their price objective on BlackRock from $755.00 to $734.00 and set a “market perform” rating for the company in a research report on Thursday, April 14th. Citigroup decreased their price objective on BlackRock from $1,035.00 to $900.00 and set a “buy” rating for the company in a research report on Tuesday, April 12th. Keefe, Bruyette & Woods reduced their price target on BlackRock from $719.00 to $675.00 and set a “market perform” rating for the company in a report on Tuesday, June 28th. The Goldman Sachs Group reduced their price target on BlackRock from $830.00 to $710.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Finally, Morgan Stanley reduced their price target on BlackRock from $801.00 to $773.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $794.08.

BlackRock Profile

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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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