Canada Pension Plan Investment Board Buys 2,453 Shares of BlackRock, Inc. (NYSE:BLK)

Canada Pension Plan Investment Board lifted its position in BlackRock, Inc. (NYSE:BLK) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,274 shares of the asset manager’s stock after purchasing an additional 2,453 shares during the quarter. Canada Pension Plan Investment Board owned about 0.09% of BlackRock worth $103,355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of BlackRock during the 1st quarter worth approximately $27,000. Pineridge Advisors LLC bought a new position in BlackRock during the fourth quarter valued at $28,000. Lam Group Inc. purchased a new position in shares of BlackRock in the 1st quarter worth $33,000. Fairman Group LLC bought a new stake in shares of BlackRock in the 4th quarter worth about $35,000. Finally, Chilton Capital Management LLC purchased a new stake in shares of BlackRock during the 1st quarter valued at about $38,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

BLK has been the subject of several recent research reports. Morgan Stanley dropped their price target on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Evercore ISI raised their price target on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Citigroup increased their target price on shares of BlackRock from $920.00 to $930.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Argus lifted their price target on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $902.13.

BlackRock Stock Performance

BlackRock stock opened at $928.79 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market capitalization of $138.02 billion, a PE ratio of 23.60, a P/E/G ratio of 1.92 and a beta of 1.30. The company has a 50 day moving average price of $868.55 and a 200-day moving average price of $817.96. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $942.73.

BlackRock (NYSE:BLK) last issued its earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.96 by $0.40. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $9.28 EPS. As a group, equities analysts forecast that BlackRock, Inc. will post 41.34 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Monday, September 9th. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insider Activity

In related news, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total value of $22,529,340.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,407,041.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,042 shares of company stock worth $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

BlackRock 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.