Lbp Am Sa Makes New $5.03 Million Investment in BlackRock $BLK

Lbp Am Sa acquired a new stake in shares of BlackRock (NYSE:BLKFree Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,317 shares of the asset manager’s stock, valued at approximately $5,033,000.

Other large investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. lifted its holdings in BlackRock by 450.0% in the 3rd quarter. Pacifica Partners Inc. now owns 22 shares of the asset manager’s stock worth $25,000 after buying an additional 18 shares in the last quarter. TruNorth Capital Management LLC increased its position in shares of BlackRock by 1,000.0% during the third quarter. TruNorth Capital Management LLC now owns 22 shares of the asset manager’s stock worth $26,000 after acquiring an additional 20 shares during the last quarter. Traub Capital Management LLC acquired a new position in shares of BlackRock in the second quarter worth about $28,000. Whipplewood Advisors LLC boosted its holdings in BlackRock by 107.1% in the second quarter. Whipplewood Advisors LLC now owns 29 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 15 shares during the last quarter. Finally, Creekmur Asset Management LLC grew its stake in BlackRock by 87.5% during the 2nd quarter. Creekmur Asset Management LLC now owns 30 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 14 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $1,244.00 to $1,267.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. BNP Paribas Exane upped their target price on shares of BlackRock from $1,290.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. Bank of America lifted their price target on BlackRock from $1,456.00 to $1,464.00 in a report on Wednesday, December 10th. Argus boosted their price objective 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. Finally, Barclays increased their price objective on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,314.71.

Check Out Our Latest Report on BlackRock

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $1,125.00, for a total value of $22,500,000.00. Following the completion of the sale, the director owned 61,894 shares of the company’s stock, valued at $69,630,750. This trade represents a 24.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Martin Small sold 27,047 shares of BlackRock stock in a transaction on Friday, January 16th. The shares were sold at an average price of $1,171.14, for a total value of $31,675,823.58. Following the transaction, the chief financial officer owned 10,557 shares in the company, valued at $12,363,724.98. This represents a 71.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 48,305 shares of company stock worth $55,488,396 over the last quarter. Insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,122.48 on Tuesday. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The firm has a market cap of $174.15 billion, a P/E ratio of 31.69, a PEG ratio of 1.42 and a beta of 1.47. The stock has a fifty day moving average price of $1,079.53 and a two-hundred day moving average price of $1,107.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.33 and a current ratio of 3.33.

BlackRock (NYSE:BLKGet Free Report) last announced its quarterly earnings data on Thursday, January 15th. The asset manager reported $13.16 earnings per share for the quarter, beating the consensus estimate of $12.55 by $0.61. The business had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.80 billion. BlackRock had a return on equity of 15.14% and a net margin of 22.93%.The company’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $11.93 earnings per share. Research analysts forecast that BlackRock will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Friday, March 6th will be paid a $5.73 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $22.92 annualized dividend and a dividend yield of 2.0%. This is an increase from BlackRock’s previous quarterly dividend of $5.21. BlackRock’s dividend payout ratio is presently 58.84%.

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.

Further Reading

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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