Dynamic Advisor Solutions LLC Has $5.93 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Dynamic Advisor Solutions LLC reduced its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,782 shares of the asset manager’s stock after selling 402 shares during the period. Dynamic Advisor Solutions LLC’s holdings in BlackRock were worth $5,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of BlackRock by 176.9% in the second quarter. AQR Capital Management LLC now owns 78,797 shares of the asset manager’s stock valued at $62,026,000 after purchasing an additional 50,342 shares during the last quarter. MBB Public Markets I LLC boosted its stake in BlackRock by 1,880.2% during the 2nd quarter. MBB Public Markets I LLC now owns 10,614 shares of the asset manager’s stock valued at $8,357,000 after purchasing an additional 10,078 shares during the period. Mackenzie Financial Corp grew its holdings in BlackRock by 4.5% in the 2nd quarter. Mackenzie Financial Corp now owns 114,596 shares of the asset manager’s stock valued at $90,224,000 after buying an additional 4,917 shares during the last quarter. Legal & General Group Plc increased its position in BlackRock by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock worth $942,640,000 after buying an additional 22,311 shares during the period. Finally, Ninepoint Partners LP acquired a new position in shares of BlackRock during the second quarter worth approximately $716,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,190 shares of company stock worth $104,436,741. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BLK. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. The Goldman Sachs Group increased their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Barclays lowered their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

Shares of BLK stock opened at $1,020.19 on Friday. The stock’s fifty day simple moving average is $1,024.23 and its 200 day simple moving average is $953.90. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45. The firm has a market cap of $158.01 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.66 EPS. On average, analysts expect that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 48.57%.

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.