BlackRock, Inc. (NYSE:BLK) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its holdings in BlackRock, Inc. (NYSE:BLK) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,532 shares of the asset manager’s stock after purchasing an additional 1,222 shares during the period. Pacer Advisors Inc.’s holdings in BlackRock were worth $11,822,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of BLK. Ascent Group LLC lifted its holdings in shares of BlackRock by 36.2% in the 2nd quarter. Ascent Group LLC now owns 787 shares of the asset manager’s stock worth $620,000 after acquiring an additional 209 shares during the last quarter. Creative Planning boosted its position in shares of BlackRock by 1.0% during the second quarter. Creative Planning now owns 21,864 shares of the asset manager’s stock worth $17,214,000 after buying an additional 208 shares during the period. Next Capital Management LLC purchased a new stake in shares of BlackRock in the 2nd quarter valued at $214,000. Truist Financial Corp lifted its stake in BlackRock by 0.5% during the 2nd quarter. Truist Financial Corp now owns 206,265 shares of the asset manager’s stock worth $162,397,000 after acquiring an additional 1,021 shares in the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new position in BlackRock during the 2nd quarter valued at about $465,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BLK shares. JPMorgan Chase & Co. increased their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. TD Cowen increased their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Evercore ISI raised their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price objective 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, The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Price Performance

Shares of NYSE:BLK opened at $1,051.91 on Wednesday. The company has a 50-day moving average price of $1,023.82 and a 200 day moving average price of $957.41. The company has a market cap of $162.92 billion, a P/E ratio of 25.05, a PEG ratio of 1.82 and a beta of 1.28. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. During the same period in the prior year, the company posted $9.66 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. Research analysts predict that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were issued a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 1.94%. BlackRock’s dividend payout ratio is presently 48.57%.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now owns 68,433 shares in the company, valued at $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,190 shares of company stock valued at $104,436,741 in the last 90 days. 0.90% of the stock is currently owned by insiders.

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.