Kiwi Wealth Investments Limited Partnership cut its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 19,360 shares of the asset manager’s stock after selling 129 shares during the period. Kiwi Wealth Investments Limited Partnership’s holdings in BlackRock were worth $10,488,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Close Asset Management Ltd acquired a new position in BlackRock during the fourth quarter worth $46,456,000. Harwood Advisory Group LLC acquired a new position in BlackRock during the fourth quarter worth $2,371,000. LPL Financial LLC raised its position in BlackRock by 10.4% during the fourth quarter. LPL Financial LLC now owns 20,977 shares of the asset manager’s stock worth $10,776,000 after acquiring an additional 1,970 shares during the period. We Are One Seven LLC acquired a new position in BlackRock during the fourth quarter worth $275,000. Finally, Shell Asset Management Co. raised its position in BlackRock by 85.8% during the fourth quarter. Shell Asset Management Co. now owns 42,406 shares of the asset manager’s stock worth $21,784,000 after acquiring an additional 19,581 shares during the period. Institutional investors own 83.76% of the company’s stock.
BlackRock opened at $525.81 on Thursday, Marketbeat.com reports. BlackRock, Inc. has a 52-week low of $408.62 and a 52-week high of $594.52. The firm has a market cap of $87.94 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 1.66 and a beta of 1.67. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 1.02.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 21st. Investors of record on Thursday, June 7th will be issued a $2.88 dividend. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, June 6th. BlackRock’s dividend payout ratio is currently 50.97%.
In other news, Director William E. Ford acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 9th. The stock was purchased at an average price of $530.95 per share, with a total value of $530,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff A. Smith sold 166 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $546.13, for a total transaction of $90,657.58. The disclosure for this sale can be found here. Insiders sold 1,066 shares of company stock valued at $558,514 in the last three months. 1.75% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on BLK shares. Credit Suisse Group upped their price objective on shares of BlackRock from $678.00 to $682.00 and gave the stock an “outperform” rating in a research report on Friday, April 13th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Thursday, March 29th. ValuEngine cut shares of BlackRock from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Deutsche Bank reduced their price objective on shares of BlackRock to $623.00 and set a “buy” rating for the company in a research report on Tuesday, March 6th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $640.00 target price on shares of BlackRock in a report on Wednesday, March 14th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $566.62.
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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