ING Groep NV Takes $25.98 Million Position in BlackRock, Inc. (NYSE:BLK)

ING Groep NV purchased a new position in BlackRock, Inc. (NYSE:BLKFree Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 32,000 shares of the asset manager’s stock, valued at approximately $25,978,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in BlackRock by 12.5% in the third quarter. Allworth Financial LP now owns 2,244 shares of the asset manager’s stock worth $1,450,000 after acquiring an additional 250 shares during the last quarter. Banque Pictet & Cie SA boosted its position in BlackRock by 45.6% during the 3rd quarter. Banque Pictet & Cie SA now owns 7,750 shares of the asset manager’s stock valued at $5,010,000 after purchasing an additional 2,429 shares during the period. FDx Advisors Inc. grew its stake in BlackRock by 1.1% during the 3rd quarter. FDx Advisors Inc. now owns 2,425 shares of the asset manager’s stock worth $1,568,000 after buying an additional 26 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in BlackRock by 1.1% in the third quarter. Cullen Frost Bankers Inc. now owns 8,975 shares of the asset manager’s stock worth $5,802,000 after buying an additional 101 shares during the period. Finally, Cypress Capital Group lifted its stake in BlackRock by 2.8% in the third quarter. Cypress Capital Group now owns 7,156 shares of the asset manager’s stock valued at $4,626,000 after buying an additional 195 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

NYSE:BLK traded up $4.51 during mid-day trading on Friday, reaching $812.22. 394,388 shares of the stock were exchanged, compared to its average volume of 579,644. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $120.70 billion, a PE ratio of 20.64, a PEG ratio of 1.67 and a beta of 1.37. The business has a fifty day moving average price of $792.31 and a 200 day moving average price of $778.08.

BlackRock (NYSE:BLKGet Free Report) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the company posted $7.93 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. Research analysts expect that BlackRock, Inc. will post 41.31 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.51%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Transactions at BlackRock

In related news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mark Wiedman sold 9,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $5,151,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rachel Lord sold 36,059 shares of BlackRock 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 transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders sold a total of 76,037 shares of company stock valued at $61,743,127 in the last three months. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group lifted their target price on BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.42.

Get Our Latest Stock Analysis on BlackRock

BlackRock Profile

(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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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