The Manufacturers Life Insurance Company Sells 61 Shares of BlackRock, Inc. (NYSE:BLK)

The Manufacturers Life Insurance Company decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,785 shares of the asset manager’s stock after selling 61 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of BlackRock worth $68,328,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BLK. Carolinas Wealth Consulting LLC increased its position in BlackRock by 25.0% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 200 shares of the asset manager’s stock valued at $163,000 after purchasing an additional 40 shares during the period. California State Teachers Retirement System increased its holdings in BlackRock by 0.7% during the fourth quarter. California State Teachers Retirement System now owns 237,740 shares of the asset manager’s stock valued at $192,997,000 after buying an additional 1,647 shares during the period. Axxcess Wealth Management LLC raised its stake in BlackRock by 35.8% in the first quarter. Axxcess Wealth Management LLC now owns 4,732 shares of the asset manager’s stock worth $3,945,000 after buying an additional 1,248 shares in the last quarter. Morningstar Investment Services LLC lifted its holdings in BlackRock by 97.1% during the fourth quarter. Morningstar Investment Services LLC now owns 114,379 shares of the asset manager’s stock worth $93,151,000 after buying an additional 56,357 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in BlackRock by 3.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 387,202 shares of the asset manager’s stock valued at $322,810,000 after acquiring an additional 14,477 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.0 %

BlackRock stock opened at $945.21 on Friday. The business’s 50-day simple moving average is $879.35 and its two-hundred day simple moving average is $821.77. 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 cap of $140.46 billion, a PE ratio of 24.02, a PEG ratio of 2.05 and a beta of 1.30. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $952.75.

BlackRock (NYSE:BLK) last issued its quarterly 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. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company earned $9.28 EPS. BlackRock’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 41.37 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 9th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.16%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,832,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total transaction of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares in the company, valued at $298,272,703.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,832,000. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock worth $79,387,117 over the last three months. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group decreased their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. TD Cowen lowered their price target on shares of BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Morgan Stanley reduced their price objective on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Keefe, Bruyette & Woods raised their target price on shares of BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Finally, StockNews.com assumed coverage on BlackRock in a research report on Thursday. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $902.13.

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.