Lam Group Inc. Takes Position in BlackRock, Inc. (NYSE:BLK)

Lam Group Inc. acquired a new position in BlackRock, Inc. (NYSE:BLKFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 40 shares of the asset manager’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in shares of BlackRock in the fourth quarter worth $27,000. Private Wealth Management Group LLC purchased a new stake in BlackRock during the 4th quarter worth about $28,000. Pineridge Advisors LLC bought a new position in BlackRock in the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA grew its holdings in BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares in the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of BlackRock during the fourth quarter valued at about $32,000. 80.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 9,000 shares of BlackRock 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 of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

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

Get Our Latest Stock Report on BlackRock

BlackRock Trading Up 0.3 %

NYSE BLK traded up $2.57 during trading on Wednesday, hitting $783.65. The company had a trading volume of 479,732 shares, compared to its average volume of 562,597. The company’s fifty day moving average is $775.16 and its 200-day moving average is $791.10. BlackRock, Inc. has a one year low of $596.18 and a one 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 company has a market cap of $116.45 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.61 and a beta of 1.34.

BlackRock (NYSE:BLKGet Free Report) last released its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.93 EPS. On average, sell-side analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, June 7th. BlackRock’s dividend payout ratio is presently 51.84%.

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.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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