Ontario Teachers Pension Plan Board Has $31.09 Million Stake in BlackRock, Inc. (BLK)
Ontario Teachers Pension Plan Board grew its stake in BlackRock, Inc. (NYSE:BLK) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,597 shares of the asset manager’s stock after purchasing an additional 2,497 shares during the period. Ontario Teachers Pension Plan Board’s holdings in BlackRock were worth $31,088,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of BlackRock by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after acquiring an additional 656,569 shares during the last quarter. BlackRock Inc. lifted its stake in shares of BlackRock by 3.2% during the 2nd quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after acquiring an additional 209,209 shares during the last quarter. State Street Corp lifted its stake in shares of BlackRock by 2.1% during the 1st quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock worth $2,088,501,000 after acquiring an additional 112,993 shares during the last quarter. UBS Group AG lifted its stake in shares of BlackRock by 40.2% during the 1st quarter. UBS Group AG now owns 1,696,340 shares of the asset manager’s stock worth $650,563,000 after acquiring an additional 486,502 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of BlackRock by 8.2% during the 1st quarter. Clearbridge Investments LLC now owns 1,557,212 shares of the asset manager’s stock worth $597,206,000 after acquiring an additional 118,222 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.
In other BlackRock news, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total transaction of $108,717.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. Insiders sold 4,447 shares of company stock worth $1,855,015 in the last three months. 1.86% of the stock is currently owned by corporate insiders.
BLK has been the subject of a number of research analyst reports. Deutsche Bank AG raised their price target on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. BidaskClub lowered BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Bank of America Corporation reissued a “buy” rating and set a $450.00 price target on shares of BlackRock in a research note on Monday, June 19th. Goldman Sachs Group, Inc. (The) raised BlackRock from a “neutral” rating to a “buy” rating and raised their price target for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Finally, Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $458.15.
Shares of BlackRock, Inc. (BLK) opened at 457.91 on Thursday. BlackRock, Inc. has a 52-week low of $336.84 and a 52-week high of $457.94. The stock has a 50 day moving average price of $427.20 and a 200-day moving average price of $411.21. The firm has a market cap of $74.28 billion, a PE ratio of 21.98 and a beta of 1.72.
BlackRock (NYSE:BLK) last posted its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the consensus estimate of $5.39 by ($0.15). The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $4.78 EPS. On average, equities analysts anticipate that BlackRock, Inc. will post $21.90 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Tuesday, September 5th were issued a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is presently 47.98%.
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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