Connor Clark & Lunn Investment Management Ltd. Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Connor Clark & Lunn Investment Management Ltd. increased its position in BlackRock, Inc. (NYSE:BLK) by 10.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,586 shares of the asset manager’s stock after buying an additional 2,253 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in BlackRock were worth $21,512,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Trustcore Financial Services LLC lifted its holdings in shares of BlackRock by 4.2% during the 2nd quarter. Trustcore Financial Services LLC now owns 299 shares of the asset manager’s stock valued at $262,000 after purchasing an additional 12 shares during the last quarter. Strategy Asset Managers LLC lifted its holdings in shares of BlackRock by 2.2% during the 2nd quarter. Strategy Asset Managers LLC now owns 549 shares of the asset manager’s stock valued at $481,000 after purchasing an additional 12 shares during the last quarter. Smith Salley & Associates lifted its holdings in shares of BlackRock by 1.0% during the 2nd quarter. Smith Salley & Associates now owns 1,210 shares of the asset manager’s stock valued at $1,059,000 after purchasing an additional 12 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its stake in BlackRock by 0.7% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 1,971 shares of the asset manager’s stock worth $1,486,000 after acquiring an additional 13 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in BlackRock by 1.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 804 shares of the asset manager’s stock worth $703,000 after acquiring an additional 13 shares during the last quarter. Institutional investors own 78.13% of the company’s stock.

NYSE:BLK opened at $874.62 on Friday. BlackRock, Inc. has a 52 week low of $531.39 and a 52 week high of $959.89. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $133.11 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. The stock’s 50-day moving average price is $901.07 and its 200-day moving average price is $854.40.

BlackRock (NYSE:BLK) last posted its earnings results on Tuesday, July 13th. The asset manager reported $10.03 EPS for the quarter, beating the Zacks’ consensus estimate of $9.33 by $0.70. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.61 billion. During the same period last year, the firm earned $7.85 EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Sell-side analysts expect that BlackRock, Inc. will post 38.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 22nd. Investors of record on Tuesday, September 7th were issued a $4.13 dividend. This represents a $16.52 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, September 3rd. BlackRock’s payout ratio is 48.85%.

In related news, General Counsel Christopher J. Meade sold 2,106 shares of BlackRock stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $877.24, for a total value of $1,847,467.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 175 shares of BlackRock stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $884.50, for a total value of $154,787.50. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.

A number of equities analysts recently issued reports on BLK shares. UBS Group raised their target price on BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, July 8th. Morgan Stanley raised their target price on BlackRock from $944.00 to $1,017.00 and gave the stock an “overweight” rating in a research note on Friday, July 9th. Citigroup raised their target price on BlackRock from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Jefferies Financial Group increased their price target on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a research report on Tuesday, August 31st. Finally, Credit Suisse Group cut their price target on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Thursday, July 15th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $953.31.

BlackRock Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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