Landsberg Bennett & Dubbaneh LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,965 shares of the asset manager’s stock after purchasing an additional 57 shares during the quarter. BlackRock accounts for approximately 1.1% of Landsberg Bennett & Dubbaneh LLC’s investment portfolio, making the stock its 24th largest position. Landsberg Bennett & Dubbaneh LLC’s holdings in BlackRock were worth $3,999,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in BlackRock by 1.2% during the second quarter. BlackRock Inc. now owns 7,642,761 shares of the asset manager’s stock worth $3,586,748,000 after purchasing an additional 89,230 shares during the period. Northern Trust Corp lifted its position in BlackRock by 1.7% during the second quarter. Northern Trust Corp now owns 1,706,376 shares of the asset manager’s stock worth $800,801,000 after purchasing an additional 28,720 shares during the period. Charles Schwab Investment Management Inc. lifted its position in BlackRock by 3.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 912,329 shares of the asset manager’s stock worth $428,156,000 after purchasing an additional 29,474 shares during the period. Nuveen Asset Management LLC raised its stake in BlackRock by 20,980.2% during the second quarter. Nuveen Asset Management LLC now owns 895,908 shares of the asset manager’s stock worth $420,451,000 after acquiring an additional 891,658 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its stake in BlackRock by 50,843.9% during the second quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock worth $48,550,000 after acquiring an additional 484,542 shares in the last quarter. 81.83% of the stock is owned by institutional investors and hedge funds.
Shares of BlackRock stock traded up $13.64 on Friday, hitting $434.02. The stock had a trading volume of 48,779 shares, compared to its average volume of 618,476. The stock has a 50 day moving average of $428.84 and a 200 day moving average of $446.55. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $487.45. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. The firm has a market capitalization of $63.86 billion, a P/E ratio of 16.12, a PEG ratio of 1.46 and a beta of 1.54.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Wednesday, September 4th. BlackRock’s dividend payout ratio is currently 49.02%.
Several research analysts have commented on BLK shares. ValuEngine downgraded BlackRock from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays reissued a “buy” rating and set a $485.00 target price on shares of BlackRock in a research note on Wednesday. BMO Capital Markets started coverage on BlackRock in a research note on Monday. They set a “market perform” rating and a $547.00 target price for the company. Credit Suisse Group set a $567.00 target price on BlackRock and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley lowered their target price on BlackRock from $553.00 to $547.00 and set an “overweight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $500.60.
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.
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