Pacer Advisors Inc. Has $7.83 Million Stake in BlackRock, Inc. (NYSE:BLK)

Pacer Advisors Inc. increased its stake in BlackRock, Inc. (NYSE:BLK) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,941 shares of the asset manager’s stock after purchasing an additional 522 shares during the quarter. Pacer Advisors Inc.’s holdings in BlackRock were worth $7,827,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ lifted its holdings in BlackRock by 1.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 29,373 shares of the asset manager’s stock worth $23,126,000 after purchasing an additional 500 shares during the last quarter. AE Wealth Management LLC lifted its holdings in BlackRock by 19.9% in the 2nd quarter. AE Wealth Management LLC now owns 1,162 shares of the asset manager’s stock worth $915,000 after purchasing an additional 193 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in BlackRock by 12.6% in the 2nd quarter. King Luther Capital Management Corp now owns 421 shares of the asset manager’s stock worth $331,000 after purchasing an additional 47 shares during the last quarter. Bridges Investment Management Inc. lifted its holdings in BlackRock by 121.1% in the 2nd quarter. Bridges Investment Management Inc. now owns 92,248 shares of the asset manager’s stock worth $72,629,000 after purchasing an additional 50,523 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in BlackRock by 1.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 131,274 shares of the asset manager’s stock worth $103,355,000 after purchasing an additional 2,453 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $937.94 on Tuesday. The business’s fifty day moving average price is $870.85 and its two-hundred day moving average price is $818.55. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $942.73. The stock has a market capitalization of $139.38 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the prior year, the business posted $9.28 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 41.34 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 9th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, September 9th. BlackRock’s dividend payout ratio is currently 51.84%.

Insiders Place Their Bets

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the transaction, the director now owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at approximately $4,826,802.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,042 shares of company stock valued at $79,387,117. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen dropped their price target on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. UBS Group dropped their price target on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays lifted their price target on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Argus lifted their price target on BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $902.13.

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.