Acadian Asset Management LLC Acquires Shares of 846 BlackRock, Inc. (NYSE:BLK)

Acadian Asset Management LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 846 shares of the asset manager’s stock, valued at approximately $362,000.

Other large investors have also recently made changes to their positions in the company. Valley National Advisers Inc. lifted its position in shares of BlackRock by 81.8% during the 1st quarter. Valley National Advisers Inc. now owns 60 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 27 shares during the period. WESPAC Advisors SoCal LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at approximately $25,000. Hanson McClain Inc. lifted its position in shares of BlackRock by 425.0% during the 4th quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 51 shares during the period. Harvest Group Wealth Management LLC acquired a new stake in shares of BlackRock during the 1st quarter valued at approximately $37,000. Finally, Rational Advisors LLC lifted its position in shares of BlackRock by 260.0% during the 1st quarter. Rational Advisors LLC now owns 90 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.

A number of equities research analysts have recently issued reports on BLK shares. Barclays lifted their price target on shares of BlackRock from $472.00 to $490.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Citigroup lifted their price target on shares of BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Bank of America reiterated a “buy” rating and set a $498.00 price target (up from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Finally, Deutsche Bank lifted their price target on shares of BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $509.38.

Shares of BLK opened at $448.28 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. BlackRock, Inc. has a 1-year low of $360.79 and a 1-year high of $532.96. The company has a market cap of $68.47 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.60 and a beta of 1.50.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.30 billion. During the same period last year, the company posted $6.48 EPS. The company’s revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts expect that BlackRock, Inc. will post 27.71 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a dividend of $3.30 per share. The ex-dividend date is Wednesday, June 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.94%. BlackRock’s dividend payout ratio (DPR) is 49.02%.

In other BlackRock news, Chairman Laurence Fink sold 31,250 shares of BlackRock stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $481.79, for a total value of $15,055,937.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gary Shedlin sold 2,750 shares of BlackRock stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $467.99, for a total transaction of $1,286,972.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,525 shares of company stock valued at $16,591,075. Corporate insiders own 1.42% of the company’s stock.

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BlackRock Company Profile

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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