William Blair Investment Management LLC Has $53.38 Million Holdings in BlackRock, Inc. (NYSE:BLK)
William Blair Investment Management LLC trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 18.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 73,977 shares of the asset manager’s stock after selling 17,068 shares during the period. William Blair Investment Management LLC’s holdings in BlackRock were worth $53,377,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its stake in BlackRock by 0.3% during the 4th quarter. BlackRock Inc. now owns 9,698,942 shares of the asset manager’s stock valued at $6,998,176,000 after purchasing an additional 31,741 shares in the last quarter. FMR LLC lifted its holdings in shares of BlackRock by 19.0% in the fourth quarter. FMR LLC now owns 3,819,050 shares of the asset manager’s stock valued at $2,755,598,000 after purchasing an additional 611,071 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of BlackRock by 0.4% during the third quarter. Wells Fargo & Company MN now owns 2,316,168 shares of the asset manager’s stock valued at $1,305,276,000 after buying an additional 9,153 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in BlackRock by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,953,878 shares of the asset manager’s stock valued at $1,101,108,000 after buying an additional 47,227 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in BlackRock by 10.7% during the 3rd quarter. Nuveen Asset Management LLC now owns 804,469 shares of the asset manager’s stock valued at $453,359,000 after acquiring an additional 77,637 shares in the last quarter. Institutional investors own 79.10% of the company’s stock.
Shares of BlackRock stock opened at $703.14 on Tuesday. BlackRock, Inc. has a 12-month low of $323.98 and a 12-month high of $788.00. The company has a market cap of $107.24 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.88 and a beta of 1.16. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $729.40 and its 200-day moving average price is $655.58.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 23rd. Stockholders of record on Friday, March 5th will be issued a $4.13 dividend. The ex-dividend date is Thursday, March 4th. This represents a $16.52 annualized dividend and a dividend yield of 2.35%. This is a boost from BlackRock’s previous quarterly dividend of $3.63. BlackRock’s dividend payout ratio is presently 42.93%.
A number of research analysts have weighed in on BLK shares. Zacks Investment Research cut shares of BlackRock from a “buy” rating to a “hold” rating and set a $733.00 target price on the stock. in a research note on Monday, December 21st. BMO Capital Markets upped their price target on BlackRock from $709.00 to $715.00 and gave the company a “market perform” rating in a research report on Friday, January 15th. Barclays increased their price target on BlackRock from $800.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, January 15th. Morgan Stanley boosted their price objective on BlackRock from $750.00 to $890.00 and gave the company an “overweight” rating in a research note on Monday, January 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $835.00 to $838.00 and gave the stock a “buy” rating in a research report on Friday, January 15th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and an average target price of $709.08.
In other BlackRock news, COO Robert L. Goldstein sold 1,984 shares of BlackRock stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $732.12, for a total transaction of $1,452,526.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Christopher J. Meade sold 179 shares of BlackRock stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $710.50, for a total transaction of $127,179.50. The disclosure for this sale can be found here. Insiders sold 40,887 shares of company stock worth $29,822,320 in the last quarter. 1.42% of the stock is currently owned by company insiders.
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: Outstanding Shares
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