Beutel Goodman & Co Ltd. Sells 128,364 Shares of BlackRock, Inc. (NYSE:BLK)

Beutel Goodman & Co Ltd. trimmed its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 33.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,210 shares of the asset manager's stock after selling 128,364 shares during the quarter. Beutel Goodman & Co Ltd. owned 0.16% of BlackRock worth $261,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. Norges Bank acquired a new stake in shares of BlackRock during the 4th quarter valued at about $2,356,357,000. Proficio Capital Partners LLC boosted its holdings in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock valued at $634,000 after purchasing an additional 633,779 shares in the last quarter. Amundi bought a new stake in shares of BlackRock in the 4th quarter valued at approximately $528,792,000. Montrusco Bolton Investments Inc. acquired a new position in shares of BlackRock in the 4th quarter worth approximately $343,976,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of BlackRock during the 4th quarter worth approximately $330,662,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BLK. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods cut their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a report on Monday, January 13th. Citigroup upped their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. UBS Group lifted their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a "neutral" rating in a research note on Tuesday, January 21st. Finally, StockNews.com started coverage on BlackRock in a research report on Saturday. They set a "hold" rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,120.67.

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Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company's stock, valued at $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 20,430 shares of company stock worth $21,234,629. Insiders own 0.90% of the company's stock.

BlackRock Trading Up 0.1 %

Shares of BLK stock traded up $0.75 on Monday, reaching $947.45. 625,747 shares of the stock were exchanged, compared to its average volume of 665,541. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The stock has a market cap of $147.09 billion, a PE ratio of 22.51, a P/E/G ratio of 1.90 and a beta of 1.28. The stock has a 50 day moving average price of $978.66 and a 200 day moving average price of $992.24.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the previous year, the business posted $9.66 EPS. The company's quarterly revenue was up 22.6% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from BlackRock's previous quarterly dividend of $5.10. BlackRock's payout ratio is currently 49.62%.

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.