BlackRock, Inc. (NYSE:BLK) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in BlackRock, Inc. (NYSE:BLK) by 63.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,994 shares of the asset manager’s stock after purchasing an additional 27,227 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BlackRock were worth $55,277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Emerald Advisors LLC boosted its holdings in BlackRock by 2.5% in the 4th quarter. Emerald Advisors LLC now owns 1,048 shares of the asset manager’s stock valued at $851,000 after purchasing an additional 26 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in BlackRock by 25.0% in 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 last quarter. McGlone Suttner Wealth Management Inc. boosted its holdings in BlackRock by 8.5% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock valued at $620,000 after purchasing an additional 60 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in BlackRock in the 4th quarter valued at about $439,000. Finally, Patten & Patten Inc. TN acquired a new position in BlackRock in the 4th quarter valued at about $205,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $915.00 price target on shares of BlackRock in a research note on Tuesday. UBS Group boosted their price target on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Morgan Stanley boosted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $844.17.

BlackRock Stock Up 0.2 %

BLK traded up $1.48 during trading hours on Friday, hitting $790.60. 341,478 shares of the company’s stock were exchanged, compared to its average volume of 471,563. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The firm has a 50 day moving average of $781.93 and a 200 day moving average of $792.65. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The firm has a market cap of $117.48 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm posted $7.93 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts predict that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, June 7th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Friday, June 7th. BlackRock’s payout ratio is 51.84%.

About BlackRock

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.