Baskin Financial Services Inc. Grows Stake in BlackRock, Inc. (NYSE:BLK)

Baskin Financial Services Inc. boosted its position in BlackRock, Inc. (NYSE:BLKFree Report) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,776 shares of the asset manager’s stock after purchasing an additional 398 shares during the period. BlackRock comprises 3.1% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 14th biggest position. Baskin Financial Services Inc.’s holdings in BlackRock were worth $34,726,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Abacus Planning Group Inc. boosted its stake in BlackRock by 4.0% in the fourth quarter. Abacus Planning Group Inc. now owns 334 shares of the asset manager’s stock valued at $271,000 after acquiring an additional 13 shares during the last quarter. Everhart Financial Group Inc. boosted its stake in BlackRock by 3.2% in the fourth quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares during the last quarter. Spreng Capital Management Inc. boosted its stake in BlackRock by 1.1% in the fourth quarter. Spreng Capital Management Inc. now owns 1,329 shares of the asset manager’s stock valued at $1,079,000 after acquiring an additional 14 shares during the last quarter. Holderness Investments Co. boosted its stake in BlackRock by 2.6% in the second quarter. Holderness Investments Co. now owns 602 shares of the asset manager’s stock valued at $416,000 after acquiring an additional 15 shares during the last quarter. Finally, Inscription Capital LLC boosted its stake in BlackRock by 1.2% in the fourth quarter. Inscription Capital LLC now owns 1,274 shares of the asset manager’s stock valued at $1,034,000 after acquiring an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday. BNP Paribas upgraded shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target on the stock in a research note on Tuesday, December 12th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. Finally, UBS Group lifted their target price on shares of BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $789.67.

Read Our Latest Stock Analysis on BlackRock

Insider Buying and Selling at BlackRock

In related news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total value of $29,498,425.54. Following the completion of the transaction, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Rachel Lord sold 36,059 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the transaction, the director now directly owns 17,004 shares in the company, valued at $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares in the company, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,511 shares of company stock valued at $71,864,028. 1.06% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

BLK stock traded down $10.18 during mid-day trading on Tuesday, hitting $816.59. The company had a trading volume of 497,087 shares, compared to its average volume of 595,517. The firm has a market cap of $121.62 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The stock’s fifty day moving average price is $807.15 and its two-hundred day moving average price is $745.77.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $0.82. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the company earned $8.93 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, analysts forecast that BlackRock, Inc. will post 39.81 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.50%. This is a boost from BlackRock’s previous quarterly dividend of $5.00. The ex-dividend date was Wednesday, March 6th. BlackRock’s payout ratio is presently 55.88%.

About BlackRock

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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