Guggenheim Capital LLC Has $38.83 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Guggenheim Capital LLC reduced its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,876 shares of the asset manager’s stock after selling 647 shares during the period. Guggenheim Capital LLC’s holdings in BlackRock were worth $38,827,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BLK. Norges Bank acquired a new stake in BlackRock during the fourth quarter valued at approximately $2,356,357,000. Proficio Capital Partners LLC boosted its stake in BlackRock by 138,682.5% in the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock valued at $634,000 after buying an additional 633,779 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in BlackRock in the fourth quarter valued at $572,730,000. Amundi acquired a new position in BlackRock during the fourth quarter worth $528,792,000. Finally, Montrusco Bolton Investments Inc. bought a new position in shares of BlackRock during the fourth quarter valued at $343,976,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Bank of America reduced their target price on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Morgan Stanley cut their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Wells Fargo & Company lowered their target price on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their target price on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,077.08.

BlackRock Trading Up 1.4 %

Shares of NYSE BLK opened at $891.02 on Tuesday. The company’s fifty day moving average is $939.58 and its 200-day moving average is $987.88. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market cap of $138.33 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same period last year, the company posted $9.81 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a dividend of $5.21 per share. The ex-dividend date was Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.34%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is 50.63%.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the transaction, the director now owns 3,720 shares of the company’s stock, valued at $3,531,656.40. The trade was a 10.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by insiders.

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.