Mirae Asset Global Investments Co. Ltd. boosted its position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 42.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 38,689 shares of the asset manager’s stock after acquiring an additional 11,543 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BlackRock were worth $26,740,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of BLK. Impact Partnership Wealth LLC purchased a new position in BlackRock in the second quarter valued at $25,000. Archer Investment Corp purchased a new position in shares of BlackRock in the 2nd quarter valued at about $29,000. Centerpoint Advisors LLC purchased a new stake in BlackRock during the first quarter worth approximately $34,000. Sittner & Nelson LLC boosted its holdings in BlackRock by 48.6% in the first quarter. Sittner & Nelson LLC now owns 52 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 17 shares in the last quarter. Finally, Barrett & Company Inc. acquired a new stake in BlackRock during the first quarter worth approximately $38,000. 77.01% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Laurence Fink sold 15,385 shares of BlackRock stock in a transaction on Monday, November 6th. The shares were sold at an average price of $652.03, for a total transaction of $10,031,481.55. Following the sale, the chief executive officer now owns 435,260 shares of the company’s stock, valued at approximately $283,802,577.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.96% of the company’s stock.
Wall Street Analyst Weigh In
BlackRock Price Performance
BLK opened at $720.92 on Tuesday. The company has a 50 day moving average of $652.37 and a two-hundred day moving average of $676.96. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $781.77. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.33. The company has a market cap of $107.24 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.22 and a beta of 1.28.
BlackRock (NYSE:BLK – Get Free Report) last released its quarterly earnings data on Friday, October 13th. The asset manager reported $10.91 EPS for the quarter, beating the consensus estimate of $8.34 by $2.57. The company had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. BlackRock had a return on equity of 14.65% and a net margin of 30.66%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $9.55 earnings per share. On average, analysts expect that BlackRock, Inc. will post 36.44 earnings per share for the current year.
BlackRock Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Thursday, December 7th will be paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.77%. BlackRock’s dividend payout ratio is currently 56.10%.
BlackRock Company Profile
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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