Allspring Global Investments Holdings LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 31.1% in the first quarter, Holdings Channel reports. The fund owned 69,694 shares of the asset manager’s stock after buying an additional 16,522 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BlackRock were worth $46,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Horan Securities Inc. boosted its holdings in BlackRock by 72.7% during the fourth quarter. Horan Securities Inc. now owns 38 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 16 shares during the period. Y.D. More Investments Ltd bought a new stake in BlackRock during the fourth quarter valued at about $28,000. HBC Financial Services PLLC boosted its holdings in BlackRock by 55.6% during the fourth quarter. HBC Financial Services PLLC now owns 42 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 15 shares during the period. Steward Financial Group LLC bought a new stake in BlackRock during the fourth quarter valued at about $31,000. Finally, Sugarloaf Wealth Management LLC boosted its holdings in BlackRock by 168.1% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 47 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 116 shares during the period. 79.37% of the stock is currently owned by institutional investors.
BlackRock Price Performance
Shares of BlackRock stock opened at $680.17 on Tuesday. The company has a current ratio of 4.20, a quick ratio of 4.20 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $101.86 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 2.07 and a beta of 1.27. BlackRock, Inc. has a 1-year low of $503.12 and a 1-year high of $785.65. The firm’s 50-day moving average price is $669.18 and its two-hundred day moving average price is $689.77.
BlackRock Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Thursday, June 8th were paid a dividend of $5.00 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $20.00 annualized dividend and a yield of 2.94%. BlackRock’s dividend payout ratio is 62.03%.
Insider Activity
In related news, CEO Laurence Fink sold 35,799 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $694.50, for a total value of $24,862,405.50. Following the completion of the sale, the chief executive officer now owns 484,325 shares of the company’s stock, valued at $336,363,712.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Laurence Fink sold 35,799 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $694.50, for a total value of $24,862,405.50. Following the completion of the sale, the chief executive officer now owns 484,325 shares of the company’s stock, valued at $336,363,712.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $696.00, for a total transaction of $2,088,000.00. Following the completion of the sale, the director now directly owns 71,307 shares of the company’s stock, valued at approximately $49,629,672. The disclosure for this sale can be found here. 1.06% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of BlackRock from $829.00 to $861.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Evercore ISI cut their price objective on shares of BlackRock from $760.00 to $740.00 and set an “outperform” rating for the company in a research report on Thursday, April 13th. StockNews.com assumed coverage on shares of BlackRock in a research report on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $800.00 to $779.00 and set an “overweight” rating for the company in a research report on Wednesday, March 29th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of BlackRock from $763.00 to $770.00 and gave the company a “market perform” rating in a research report on Monday, April 17th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $755.92.
About BlackRock
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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