Krane Funds Advisors LLC Has $429,000 Stake in BlackRock, Inc. (NYSE:BLK)

Krane Funds Advisors LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 429 shares of the asset manager’s stock after selling 23 shares during the period. BlackRock comprises 0.4% of Krane Funds Advisors LLC’s holdings, making the stock its 19th largest holding. Krane Funds Advisors LLC’s holdings in BlackRock were worth $429,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in BlackRock during the first quarter worth about $27,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the 2nd quarter worth approximately $31,000. Chilton Capital Management LLC acquired a new stake in shares of BlackRock during the 1st quarter worth approximately $38,000. Olistico Wealth LLC bought a new position in BlackRock in the second quarter valued at approximately $53,000. Finally, ORG Partners LLC raised its holdings in shares of BlackRock by 257.9% during the 2nd quarter. ORG Partners LLC now owns 68 shares of the asset manager’s stock worth $54,000 after buying an additional 49 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BLK has been the topic of a number of research analyst reports. UBS Group decreased their price target on shares of BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. The Goldman Sachs Group increased their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective on BlackRock from $774.00 to $864.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Morgan Stanley lifted their price target on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods upped their price objective on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Three equities 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 currently has a consensus rating of “Moderate Buy” and an average target price of $991.46.

BlackRock Stock Performance

Shares of BLK opened at $1,001.88 on Friday. The firm’s fifty day simple moving average is $912.43 and its two-hundred day simple moving average is $836.11. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $1,032.00. The stock has a market capitalization of $148.88 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the business earned $10.91 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, analysts predict that BlackRock, Inc. will post 41.73 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.04%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Insider Activity

In other BlackRock news, Director Pamela Daley sold 1,531 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $4,826,802.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Laurence Fink sold 29,450 shares of the firm’s stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela Daley sold 1,531 shares of BlackRock stock in a transaction dated Friday, August 2nd. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,042 shares of company stock worth $56,857,777 in the last three months. Company insiders own 0.90% of the company’s stock.

BlackRock 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.