BlackRock, Inc. (NYSE:BLK) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,089 shares of the asset manager's stock after buying an additional 13,678 shares during the quarter. Mackenzie Financial Corp owned about 0.09% of BlackRock worth $140,531,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Princeton Global Asset Management LLC lifted its stake in BlackRock by 8.7% during the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager's stock worth $128,000 after acquiring an additional 10 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in shares of BlackRock by 0.8% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager's stock valued at $1,311,000 after acquiring an additional 10 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager's stock valued at $377,000 after acquiring an additional 10 shares during the last quarter. Mascoma Wealth Management LLC grew its stake in BlackRock by 9.5% during the 4th quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager's stock worth $130,000 after buying an additional 11 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake in BlackRock by 2.1% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BLK shares. Barclays raised their price target on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Wall Street Zen upgraded BlackRock to a "hold" rating in a research note on Saturday, May 24th. TD Cowen dropped their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company lowered their target price on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Citigroup lowered their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,077.08.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.98% of the company's stock.

BlackRock Price Performance

Shares of BlackRock stock traded down $5.83 during trading on Friday, reaching $970.50. The company's stock had a trading volume of 174,916 shares, compared to its average volume of 690,964. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $752.30 and a 12-month high of $1,084.22. The company has a market capitalization of $150.35 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The business has a 50 day moving average price of $922.27 and a 200-day moving average price of $975.86.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the business earned $9.81 earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.15%. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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.