Trexquant Investment LP acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,894 shares of the asset manager’s stock, valued at approximately $1,042,000.
A number of other hedge funds have also recently modified their holdings of BLK. Fairfield Bush & CO. bought a new stake in shares of BlackRock during the 1st quarter valued at $115,000. United Bank lifted its stake in shares of BlackRock by 17.1% during the 1st quarter. United Bank now owns 1,287 shares of the asset manager’s stock valued at $983,000 after buying an additional 188 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in shares of BlackRock by 2.6% during the 1st quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock valued at $1,512,000 after buying an additional 51 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of BlackRock by 35.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock valued at $783,000 after buying an additional 268 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of BlackRock by 11.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock valued at $1,110,000 after buying an additional 152 shares in the last quarter. Institutional investors own 77.69% of the company’s stock.
BlackRock Stock Performance
BlackRock stock opened at $625.77 on Tuesday. The company’s 50-day moving average price is $721.34 and its 200-day moving average price is $682.01. BlackRock, Inc. has a twelve month low of $503.12 and a twelve month high of $788.65. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.33. The company has a market cap of $94.02 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28.
BlackRock Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Tuesday, March 7th will be issued a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a yield of 3.20%. This is an increase from BlackRock’s previous quarterly dividend of $4.88. The ex-dividend date is Monday, March 6th. BlackRock’s dividend payout ratio is presently 58.91%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on BLK. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $642.00 to $846.00 and gave the company a “buy” rating in a research note on Tuesday, November 15th. Credit Suisse Group boosted their price target on shares of BlackRock from $540.00 to $680.00 and gave the stock a “neutral” rating in a research note on Thursday, January 12th. The Goldman Sachs Group boosted their price target on shares of BlackRock from $741.00 to $825.00 and gave the stock a “buy” rating in a research note on Wednesday, January 4th. Bank of America decreased their price target on shares of BlackRock from $821.00 to $813.00 in a research note on Sunday, January 15th. Finally, Morgan Stanley boosted their price target on shares of BlackRock from $785.00 to $828.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 17th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $740.92.
Insider Activity at BlackRock
In related news, Director Mark Wiedman sold 1,075 shares of the company’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $749.89, for a total transaction of $806,131.75. Following the transaction, the director now directly owns 8,682 shares in the company, valued at approximately $6,510,544.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Mark Wiedman sold 1,075 shares of the company’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $749.89, for a total transaction of $806,131.75. Following the transaction, the director now directly owns 8,682 shares in the company, valued at approximately $6,510,544.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 575 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $689.06, for a total transaction of $396,209.50. Following the transaction, the director now owns 4,670 shares in the company, valued at $3,217,910.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,839 shares of company stock worth $3,578,947. Insiders own 1.06% of the company’s stock.
BlackRock Company Profile
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Susan L.
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