Lido Advisors LLC Has $42.45 Million Stock Position in BlackRock $BLK

Lido Advisors LLC increased its holdings in shares of BlackRock (NYSE:BLK) by 74.1% in the third quarter, HoldingsChannel reports. The firm owned 36,412 shares of the asset manager’s stock after buying an additional 15,503 shares during the period. Lido Advisors LLC’s holdings in BlackRock were worth $42,454,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLK. Integrated Wealth Concepts LLC increased its stake in BlackRock by 8.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,368 shares of the asset manager’s stock worth $2,761,000 after acquiring an additional 193 shares during the period. JPL Wealth Management LLC acquired a new position in BlackRock in the 3rd quarter valued at $106,000. Junto Capital Management LP lifted its position in shares of BlackRock by 70.8% during the 3rd quarter. Junto Capital Management LP now owns 156,853 shares of the asset manager’s stock valued at $182,870,000 after acquiring an additional 65,013 shares during the period. Holocene Advisors LP acquired a new stake in shares of BlackRock during the 3rd quarter worth $56,425,000. Finally, Gotham Asset Management LLC increased its position in shares of BlackRock by 103.1% in the third quarter. Gotham Asset Management LLC now owns 20,091 shares of the asset manager’s stock worth $23,423,000 after purchasing an additional 10,201 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

BlackRock stock opened at $922.79 on Monday. The business has a 50 day moving average of $1,075.75 and a 200-day moving average of $1,092.23. The company has a market capitalization of $143.53 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.18 and a beta of 1.48. BlackRock has a 1 year low of $773.74 and a 1 year high of $1,219.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.98 and a quick ratio of 2.98.

BlackRock (NYSE:BLK) last announced its earnings results on Thursday, January 15th. The asset manager reported $13.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.55 by $0.61. BlackRock had a return on equity of 14.78% and a net margin of 22.93%.The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.80 billion. During the same period last year, the company earned $11.93 EPS. BlackRock’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, equities research analysts predict that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Friday, March 6th will be paid a $5.73 dividend. This represents a $22.92 annualized dividend and a yield of 2.5%. This is a boost from BlackRock’s previous quarterly dividend of $5.21. The ex-dividend date of this dividend is Friday, March 6th. BlackRock’s payout ratio is presently 64.71%.

Insiders Place Their Bets

In related news, COO Robert L. Goldstein sold 54,190 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $1,087.29, for a total transaction of $58,920,245.10. Following the transaction, the chief operating officer owned 51,478 shares in the company, valued at $55,971,514.62. The trade was a 51.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J. Richard Kushel sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $1,125.00, for a total transaction of $22,500,000.00. Following the transaction, the director owned 61,894 shares in the company, valued at $69,630,750. This represents a 24.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 111,319 shares of company stock valued at $123,999,249 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on BLK shares. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $1,244.00 to $1,267.00 and gave the company a “neutral” rating in a report on Friday, January 9th. TD Cowen downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, January 14th. BMO Capital Markets reduced their price target on shares of BlackRock from $1,300.00 to $1,250.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Keefe, Bruyette & Woods cut shares of BlackRock from a “moderate buy” rating to a “moderate sell” rating in a research note on Tuesday, March 3rd. Finally, Barclays upped their target price on BlackRock from $1,300.00 to $1,350.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,308.89.

BlackRock Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.