Mirae Asset Global Investments Co. Ltd. Raises Stock Position in BlackRock, Inc. (NYSE:BLK)

Mirae Asset Global Investments Co. Ltd. lifted its stake in BlackRock, Inc. (NYSE:BLK) by 42.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,689 shares of the asset manager’s stock after purchasing an additional 11,543 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BlackRock were worth $26,740,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Impact Partnership Wealth LLC bought a new position in shares of BlackRock in the 2nd quarter worth approximately $25,000. Archer Investment Corp purchased a new stake in shares of BlackRock in the 2nd quarter worth about $29,000. Centerpoint Advisors LLC bought a new position in shares of BlackRock in the 1st quarter worth about $34,000. Sittner & Nelson LLC boosted its stake in BlackRock by 48.6% during the first quarter. Sittner & Nelson LLC now owns 52 shares of the asset manager’s stock worth $35,000 after acquiring an additional 17 shares in the last quarter. Finally, Barrett & Company Inc. bought a new position in shares of BlackRock during the first quarter valued at approximately $38,000. Institutional investors own 77.01% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $720.92 on Tuesday. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $781.77. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 0.33. The stock has a market cap of $107.24 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.22 and a beta of 1.28. The business has a 50-day simple moving average of $652.37 and a two-hundred day simple moving average of $676.96.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 13th. The asset manager reported $10.91 earnings per share for the quarter, beating the consensus estimate of $8.34 by $2.57. BlackRock had a net margin of 30.66% and a return on equity of 14.65%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the previous year, the firm earned $9.55 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts expect that BlackRock, Inc. will post 36.44 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Thursday, December 7th will be given a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, December 6th. BlackRock’s dividend payout ratio is currently 56.10%.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on BlackRock from $820.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, October 4th. StockNews.com began coverage on shares of BlackRock in a research note on Thursday, October 5th. They set a “hold” rating for the company. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $736.00 to $708.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Morgan Stanley upped their price objective on BlackRock from $836.00 to $897.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on BlackRock from $814.00 to $800.00 and set a “buy” rating for the company in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $764.75.

Insider Buying and Selling

In other news, CEO Laurence Fink sold 15,385 shares of BlackRock stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $652.03, for a total transaction of $10,031,481.55. Following 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 document filed with the SEC, which is available at this link. 0.96% of the stock is owned by insiders.

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.