Lansforsakringar Fondforvaltning AB publ Has $44.89 Million Stock Position in BlackRock $BLK

Lansforsakringar Fondforvaltning AB publ decreased its position in shares of BlackRock (NYSE:BLKFree Report) by 16.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,677 shares of the asset manager’s stock after selling 9,209 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in BlackRock were worth $44,890,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Evolution Wealth Management Inc. bought a new stake in shares of BlackRock in the fourth quarter valued at about $26,000. Birchbrook Inc. bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of BlackRock in the fourth quarter valued at $32,000. Basepoint Wealth LLC bought a new position in BlackRock in the fourth quarter worth $32,000. Finally, Swiss RE Ltd. bought a new stake in BlackRock in the 4th quarter valued at $33,000. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Performance

NYSE BLK opened at $950.63 on Tuesday. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94. The company has a 50 day moving average of $1,043.56 and a 200-day moving average of $1,048.73. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. The firm has a market cap of $147.57 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.26 and a beta of 1.42.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share for the quarter, beating analysts’ consensus estimates of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the firm posted $9.64 EPS. The business’s revenue was up 27.0% on a year-over-year basis. On average, equities analysts forecast that BlackRock will post 52.8 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Friday, June 5th were issued a $5.73 dividend. This represents a $22.92 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, June 5th. BlackRock’s payout ratio is currently 57.53%.

Insider Activity

In other BlackRock news, President Robert Kapito sold 8,739 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total transaction of $9,233,627.40. Following the sale, the president owned 210,186 shares of the company’s stock, valued at $222,082,527.60. This represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Laurence Fink sold 33,900 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total transaction of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares in the company, valued at $242,168,583.80. The trade was a 12.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BLK. TD Cowen dropped their price target on shares of BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating for the company in a research report on Thursday, April 9th. Keefe, Bruyette & Woods upped their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. The Goldman Sachs Group increased their target price on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Barclays boosted their price target on BlackRock from $1,290.00 to $1,310.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Morgan Stanley upped their price target on BlackRock from $1,393.00 to $1,430.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,269.44.

Read Our Latest Stock Analysis on BLK

Key Headlines Impacting BlackRock

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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.

See Also

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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