KBC Group NV boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,051 shares of the asset manager’s stock after purchasing an additional 609 shares during the period. KBC Group NV’s holdings in BlackRock were worth $72,168,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BLK. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of BlackRock by 1.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 10,052 shares of the asset manager’s stock valued at $8,430,000 after acquiring an additional 186 shares during the last quarter. Spearhead Capital Advisors LLC lifted its stake in shares of BlackRock by 11.2% in the 3rd quarter. Spearhead Capital Advisors LLC now owns 11,817 shares of the asset manager’s stock valued at $9,910,000 after acquiring an additional 1,194 shares during the last quarter. AGF Investments Inc. lifted its stake in shares of BlackRock by 3.6% in the 2nd quarter. AGF Investments Inc. now owns 2,535 shares of the asset manager’s stock valued at $2,218,000 after acquiring an additional 88 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of BlackRock by 4.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 33,529 shares of the asset manager’s stock valued at $28,120,000 after acquiring an additional 1,399 shares during the last quarter. Finally, Lido Advisors LLC raised its position in BlackRock by 23.8% during the 2nd quarter. Lido Advisors LLC now owns 2,818 shares of the asset manager’s stock worth $2,466,000 after purchasing an additional 541 shares during the last quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.
BLK stock traded down $18.45 during mid-day trading on Friday, reaching $849.13. 7,579 shares of the company traded hands, compared to its average volume of 481,135. The stock has a market cap of $129.00 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 1.89 and a beta of 1.17. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.56. BlackRock, Inc. has a fifty-two week low of $670.28 and a fifty-two week high of $973.16. The firm’s 50 day moving average price is $918.68 and its 200 day moving average price is $903.33.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 23rd. Shareholders of record on Tuesday, December 7th were paid a dividend of $4.13 per share. The ex-dividend date of this dividend was Monday, December 6th. This represents a $16.52 dividend on an annualized basis and a yield of 1.95%. BlackRock’s dividend payout ratio (DPR) is currently 43.94%.
BLK has been the subject of several analyst reports. BMO Capital Markets lowered their target price on BlackRock from $797.00 to $794.00 and set a “market perform” rating for the company in a research report on Thursday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price target on BlackRock from $1,141.00 to $1,123.00 in a report on Thursday. Morgan Stanley increased their price target on BlackRock from $1,026.00 to $1,051.00 and gave the stock an “overweight” rating in a report on Friday, January 7th. Evercore ISI reiterated a “buy” rating and set a $956.00 price target on shares of BlackRock in a report on Thursday, October 14th. Finally, Citigroup increased their price target on BlackRock from $1,030.00 to $1,035.00 and gave the stock a “buy” rating in a report on Thursday, October 14th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, BlackRock presently has an average rating of “Buy” and a consensus target price of $987.71.
In other BlackRock news, Director J. Richard Kushel sold 405 shares of BlackRock stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $964.45, for a total transaction of $390,602.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laurence Fink sold 22,247 shares of BlackRock stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $925.68, for a total transaction of $20,593,602.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,017 shares of company stock worth $36,055,061. Insiders own 1.16% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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