Norden Group LLC Boosts Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Norden Group LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 1,865.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 9,198 shares of the asset manager’s stock after acquiring an additional 8,730 shares during the period. Norden Group LLC’s holdings in BlackRock were worth $7,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Tennessee Valley Asset Management Partners purchased a new position in BlackRock during the fourth quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new position in BlackRock during the first quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new position in BlackRock during the fourth quarter valued at approximately $28,000. Pineridge Advisors LLC purchased a new position in BlackRock during the fourth quarter valued at approximately $28,000. Finally, LFA Lugano Financial Advisors SA grew its stake in BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 0.0 %

Shares of BLK opened at $789.12 on Friday. The firm has a market cap of $117.26 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The firm has a 50 day moving average price of $780.75 and a 200-day moving average price of $792.72.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.93 EPS. As a group, equities research analysts forecast that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were issued a $5.10 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.59%. BlackRock’s payout ratio is 51.84%.

Insider Transactions at BlackRock

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Morgan Stanley boosted their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. 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. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $915.00 target price on shares of BlackRock in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $844.17.

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.