BlackRock, Inc. (NYSE:BLK) Shares Purchased by Investment Research & Advisory Group Inc.

29 Dec 2023, 17:42 by Scott Moore · The Cerbat Gem

Investment Research & Advisory Group Inc. increased its holdings in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 1.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,235 shares of the asset manager’s stock after purchasing an additional 70 shares during the quarter. BlackRock accounts for about 1.9% of Investment Research & Advisory Group Inc.’s investment portfolio, making the stock its 10th largest holding. Investment Research & Advisory Group Inc.’s holdings in BlackRock were worth $3,385,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mendel Capital Management LLC raised its stake in shares of BlackRock by 1.4% in the 2nd quarter. Mendel Capital Management LLC now owns 1,013 shares of the asset manager’s stock valued at $700,000 after acquiring an additional 14 shares in the last quarter. Key Financial Inc raised its stake in shares of BlackRock by 2.7% in the 2nd quarter. Key Financial Inc now owns 540 shares of the asset manager’s stock valued at $373,000 after acquiring an additional 14 shares in the last quarter. Keystone Financial Planning Inc. raised its stake in shares of BlackRock by 4.2% in the 2nd quarter. Keystone Financial Planning Inc. now owns 369 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 15 shares in the last quarter. Field & Main Bank raised its stake in shares of BlackRock by 1.8% in the 2nd quarter. Field & Main Bank now owns 842 shares of the asset manager’s stock valued at $582,000 after acquiring an additional 15 shares in the last quarter. Finally, Rock Creek Group LP raised its stake in shares of BlackRock by 12.8% in the 2nd quarter. Rock Creek Group LP now owns 132 shares of the asset manager’s stock valued at $91,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on BlackRock from $836.00 to $897.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. The Goldman Sachs Group lifted their price target on BlackRock from $719.00 to $793.00 and gave the stock a “buy” rating in a research report on Thursday, November 30th. Jefferies Financial Group dropped their price target on BlackRock from $781.00 to $754.00 in a research report on Tuesday, October 10th. Wells Fargo & Company dropped their price target on BlackRock from $820.00 to $720.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 4th. Finally, BNP Paribas raised BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a report on Tuesday, December 12th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $771.54.

Read Our Latest Stock Report on BlackRock

Insider Transactions at BlackRock

In other news, CEO Laurence Fink sold 15,385 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $652.03, for a total transaction of $10,031,481.55. Following the completion of the sale, the chief executive officer now owns 435,260 shares in the company, valued at $283,802,577.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

Shares of BLK stock opened at $814.41 on Friday. The stock’s fifty day simple moving average is $715.71 and its 200 day simple moving average is $697.51. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.72 and a quick ratio of 3.72. The firm has a market cap of $121.15 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 2.34 and a beta of 1.33. BlackRock, Inc. has a one year low of $596.18 and a one year high of $819.00.

BlackRock (NYSE:BLK – Get Free Report) last announced its quarterly earnings results on Friday, October 13th. The asset manager reported $10.91 EPS for the quarter, beating the consensus estimate of $8.34 by $2.57. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. BlackRock had a return on equity of 14.65% and a net margin of 30.66%. BlackRock’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.55 EPS. On average, analysts expect that BlackRock, Inc. will post 36.84 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Thursday, December 7th were given a dividend of $5.00 per share. The ex-dividend date was Wednesday, December 6th. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.46%. BlackRock’s payout ratio is currently 56.10%.

BlackRock Company Profile

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