TD Waterhouse Canada Inc. Lowers Stake in BlackRock $BLK

TD Waterhouse Canada Inc. lessened its position in BlackRock (NYSE:BLK) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,638 shares of the asset manager’s stock after selling 413 shares during the period. TD Waterhouse Canada Inc.’s holdings in BlackRock were worth $16,477,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey boosted its position in shares of BlackRock by 7.9% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,167 shares of the asset manager’s stock worth $24,308,000 after acquiring an additional 1,693 shares during the last quarter. Allianz SE increased its position in BlackRock by 2.6% during the first quarter. Allianz SE now owns 11,025 shares of the asset manager’s stock worth $10,435,000 after purchasing an additional 277 shares during the last quarter. Opus Investment Management Inc. purchased a new position in BlackRock during the first quarter worth approximately $1,420,000. Ally Financial Inc. acquired a new position in shares of BlackRock in the 1st quarter valued at $1,893,000. Finally, Sumitomo Mitsui Financial Group Inc. grew its stake in shares of BlackRock by 13.5% during the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 19,695 shares of the asset manager’s stock valued at $18,641,000 after buying an additional 2,347 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $1,014.53 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.04 and a quick ratio of 4.04. The company’s fifty day moving average price is $1,122.25 and its two-hundred day moving average price is $1,077.17. The firm has a market capitalization of $157.41 billion, a P/E ratio of 26.09, a P/E/G ratio of 1.90 and a beta of 1.48. BlackRock has a 12 month low of $773.74 and a 12 month high of $1,219.94.

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

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Friday, December 5th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. BlackRock’s dividend payout ratio (DPR) is currently 53.59%.

Insider Activity

In other news, Director Rachel Lord sold 12,000 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction 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 trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BLK. Argus increased their target price on BlackRock from $1,165.00 to $1,330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Barclays upped their price target on BlackRock from $1,310.00 to $1,360.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Morgan Stanley lifted their price objective on BlackRock from $1,362.00 to $1,486.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group raised their target price on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, UBS Group reaffirmed a “hold” rating on shares of BlackRock in a research report on Tuesday, October 21st. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,302.53.

About BlackRock

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.