Artemis Investment Management LLP Invests $25.33 Million in BlackRock, Inc. (NYSE:BLK)

Artemis Investment Management LLP acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 26,675 shares of the asset manager’s stock, valued at approximately $25,328,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors boosted its stake in shares of BlackRock by 11.1% during the first quarter. Capital Research Global Investors now owns 4,354,236 shares of the asset manager’s stock valued at $3,630,127,000 after purchasing an additional 435,358 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in BlackRock by 24,171.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 416,014 shares of the asset manager’s stock valued at $346,831,000 after buying an additional 414,300 shares during the last quarter. Vanguard Group Inc. boosted its position in BlackRock by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,182,262 shares of the asset manager’s stock worth $10,990,052,000 after buying an additional 292,017 shares during the period. M&G Plc bought a new stake in BlackRock during the 1st quarter worth approximately $161,918,000. Finally, Mubadala Investment Co PJSC acquired a new position in BlackRock in the 4th quarter valued at approximately $147,748,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In related news, CEO Laurence Fink sold 29,450 shares of BlackRock stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the transaction, the chief executive officer now directly owns 353,718 shares of the company’s stock, valued at approximately $298,272,703.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 27,000 shares of BlackRock stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,407,041.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Up 0.9 %

BlackRock stock opened at $949.07 on Wednesday. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $141.03 billion, a PE ratio of 24.12, a PEG ratio of 2.05 and a beta of 1.30. The firm’s fifty day moving average is $891.57 and its 200 day moving average is $827.42. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $960.74.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.96 by $0.40. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the business earned $9.28 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 41.37 EPS for the current fiscal year.

BlackRock Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Analyst Ratings Changes

Several brokerages recently weighed in on BLK. Argus boosted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. StockNews.com initiated coverage on BlackRock in a research report on Friday, October 4th. They issued a “hold” rating on the stock. Evercore ISI raised their price objective on BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. UBS Group cut their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of BlackRock from $774.00 to $864.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $943.93.

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.