Connor Clark & Lunn Investment Management Ltd. Acquires 19,846 Shares of BlackRock $BLK

Connor Clark & Lunn Investment Management Ltd. grew its holdings in BlackRock (NYSE:BLK) by 60.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,830 shares of the asset manager’s stock after acquiring an additional 19,846 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in BlackRock were worth $55,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BLK. Vanguard Group Inc. grew its position in BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock worth $13,027,419,000 after purchasing an additional 387,466 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of BlackRock by 73.2% in the first quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after buying an additional 555,098 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in BlackRock by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock worth $1,142,340,000 after buying an additional 111,694 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in BlackRock by 32.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after acquiring an additional 279,336 shares during the period. Finally, Invesco Ltd. raised its holdings in BlackRock by 13.2% in the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock valued at $882,970,000 after acquiring an additional 108,473 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 1.1%

Shares of NYSE:BLK opened at $1,081.66 on Friday. The company’s fifty day moving average is $1,130.62 and its 200-day moving average is $1,069.28. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.04 and a current ratio of 4.04. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,219.94. The company has a market capitalization of $167.50 billion, a PE ratio of 27.81, a P/E/G ratio of 1.90 and a beta of 1.48.

BlackRock (NYSE:BLK) last announced its earnings results on Tuesday, October 14th. The asset manager reported $11.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.22 billion. BlackRock had a return on equity of 15.36% and a net margin of 26.64%.The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter last year, the business earned $11.46 EPS. Equities research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Rachel Lord sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $1,165.04, for a total value of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. The trade was a 62.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BLK. BMO Capital Markets lifted their price objective on BlackRock from $1,280.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 14th. The Goldman Sachs Group boosted their price target on shares of BlackRock from $1,163.00 to $1,312.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Citigroup raised their price objective on shares of BlackRock from $1,200.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of BlackRock from $1,215.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $1,303.41.

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.