Exencial Wealth Advisors LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 2.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,335 shares of the asset manager’s stock after selling 392 shares during the period. BlackRock accounts for about 1.6% of Exencial Wealth Advisors LLC’s holdings, making the stock its 9th largest holding. Exencial Wealth Advisors LLC’s holdings in BlackRock were worth $6,554,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of BLK. Norges Bank purchased a new position in shares of BlackRock in the 4th quarter worth $1,092,934,000. Pennsylvania Trust Co raised its position in shares of BlackRock by 5,049.8% in the 1st quarter. Pennsylvania Trust Co now owns 1,084,132 shares of the asset manager’s stock worth $44,805,000 after buying an additional 1,063,080 shares during the period. Flossbach Von Storch AG raised its position in shares of BlackRock by 114.1% in the 4th quarter. Flossbach Von Storch AG now owns 582,743 shares of the asset manager’s stock worth $228,913,000 after buying an additional 310,623 shares during the period. Beutel Goodman & Co Ltd. purchased a new position in shares of BlackRock in the 4th quarter worth $6,039,000. Finally, Partner Fund Management L.P. purchased a new position in shares of BlackRock in the 4th quarter worth $65,513,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE BLK opened at $435.76 on Friday. BlackRock, Inc. has a 12-month low of $360.79 and a 12-month high of $557.00. The firm has a market capitalization of $67.33 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.59 and a beta of 1.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be paid a dividend of $3.30 per share. The ex-dividend date is Wednesday, June 5th. This represents a $13.20 annualized dividend and a dividend yield of 3.03%. BlackRock’s dividend payout ratio is presently 49.02%.
Several research analysts recently weighed in on the company. Wells Fargo & Co increased their target price on BlackRock from $460.00 to $480.00 and gave the stock an “average” rating in a research report on Wednesday, April 17th. Barclays increased their price target on BlackRock from $490.00 to $515.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Morgan Stanley increased their price target on BlackRock from $536.00 to $545.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Citigroup increased their price target on BlackRock from $450.00 to $500.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Deutsche Bank increased their price target on BlackRock from $428.00 to $431.00 and gave the company a “hold” rating in a report on Friday, March 15th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. BlackRock currently has an average rating of “Buy” and a consensus price target of $509.38.
In other news, COO Robert L. Goldstein sold 5,133 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $443.00, for a total transaction of $2,273,919.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff A. Smith sold 75 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $479.40, for a total value of $35,955.00. The disclosure for this sale can be found here. Insiders have sold 39,658 shares of company stock valued at $18,864,994 over the last 90 days. Insiders own 1.42% of the company’s stock.
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BlackRock Company 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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