Corebridge Financial Inc. Sells 76 Shares of BlackRock, Inc. (NYSE:BLK)

Corebridge Financial Inc. lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,243 shares of the asset manager’s stock after selling 76 shares during the period. Corebridge Financial Inc.’s holdings in BlackRock were worth $42,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLK. United Bank lifted its holdings in shares of BlackRock by 1.1% during the third quarter. United Bank now owns 1,121 shares of the asset manager’s stock valued at $1,064,000 after purchasing an additional 12 shares during the last quarter. Pacer Advisors Inc. increased its position in BlackRock by 3.7% during the 3rd quarter. Pacer Advisors Inc. now owns 10,310 shares of the asset manager’s stock valued at $9,789,000 after buying an additional 369 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in BlackRock by 8.5% during the third quarter. Great Valley Advisor Group Inc. now owns 3,923 shares of the asset manager’s stock valued at $3,725,000 after buying an additional 306 shares during the last quarter. Okabena Investment Services Inc. boosted its holdings in BlackRock by 7.4% in the third quarter. Okabena Investment Services Inc. now owns 1,548 shares of the asset manager’s stock worth $1,470,000 after acquiring an additional 107 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. increased its holdings in shares of BlackRock by 3.3% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 14,622 shares of the asset manager’s stock valued at $13,883,000 after acquiring an additional 466 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group increased their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays decreased their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Trading Down 0.4 %

Shares of BlackRock stock opened at $950.43 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The stock has a market capitalization of $147.56 billion, a PE ratio of 22.63, a P/E/G ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The company’s fifty day simple moving average is $980.77 and its 200-day simple moving average is $989.13.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the company posted $9.66 earnings per share. BlackRock’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, equities analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a $5.21 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is presently 49.62%.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 430 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the transaction, the director now owns 3,720 shares of the company’s stock, valued at approximately $3,531,656.40. This represents a 10.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 20,430 shares of company stock valued at $21,234,629 over the last three months. Corporate insiders own 0.90% of the company’s stock.

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.