Amundi Pioneer Asset Management Inc. Grows Holdings in BlackRock, Inc. (NYSE:BLK)

Amundi Pioneer Asset Management Inc. lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 280,508 shares of the asset manager’s stock after buying an additional 60,236 shares during the period. Amundi Pioneer Asset Management Inc. owned approximately 0.18% of BlackRock worth $119,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Destination Wealth Management grew its position in BlackRock by 1.7% in the first quarter. Destination Wealth Management now owns 1,253 shares of the asset manager’s stock worth $535,000 after acquiring an additional 21 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its position in BlackRock by 11.6% during the first quarter. Winslow Evans & Crocker Inc. now owns 212 shares of the asset manager’s stock valued at $94,000 after buying an additional 22 shares during the period. Somerset Trust Co boosted its position in BlackRock by 0.6% during the first quarter. Somerset Trust Co now owns 3,678 shares of the asset manager’s stock valued at $1,572,000 after buying an additional 23 shares during the period. SlateStone Wealth LLC boosted its position in BlackRock by 0.6% during the first quarter. SlateStone Wealth LLC now owns 4,167 shares of the asset manager’s stock valued at $1,781,000 after buying an additional 23 shares during the period. Finally, First Manhattan Co. boosted its position in BlackRock by 3.5% during the first quarter. First Manhattan Co. now owns 707 shares of the asset manager’s stock valued at $302,000 after buying an additional 24 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

In other BlackRock news, CFO Gary Shedlin sold 2,750 shares of BlackRock stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $467.99, for a total value of $1,286,972.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Laurence Fink sold 31,250 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total transaction of $15,055,937.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,525 shares of company stock worth $16,591,075. 1.42% of the stock is currently owned by insiders.

Shares of BlackRock stock traded up $4.82 on Friday, hitting $469.30. 634,256 shares of the company’s stock were exchanged, compared to its average volume of 523,594. The company has a market capitalization of $72.52 billion, a PE ratio of 17.43, a PEG ratio of 1.69 and a beta of 1.50. BlackRock, Inc. has a 1 year low of $360.79 and a 1 year high of $513.00. The firm has a 50-day moving average of $444.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $6.13 by $0.48. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $6.48 EPS. Equities research analysts predict that BlackRock, Inc. will post 27.79 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a $3.30 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. BlackRock’s dividend payout ratio is currently 49.02%.

A number of analysts have recently weighed in on the stock. Citigroup increased their target price on shares of BlackRock from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $491.00 price target for the company in a research note on Tuesday, April 2nd. Barclays increased their price target on shares of BlackRock from $490.00 to $515.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Morgan Stanley raised their target price on shares of BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Wells Fargo & Co raised their target price on shares of BlackRock from $460.00 to $480.00 and gave the company an “average” rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $509.38.

BlackRock 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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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