State of Alaska Department of Revenue raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 544.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,128 shares of the asset manager’s stock after purchasing an additional 10,246 shares during the quarter. State of Alaska Department of Revenue’s holdings in BlackRock were worth $6,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in BLK. Third Point LLC bought a new stake in BlackRock during the second quarter valued at approximately $654,736,000. Capital World Investors lifted its position in BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after purchasing an additional 810,667 shares during the last quarter. Vanguard Group Inc. lifted its position in BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after purchasing an additional 656,569 shares during the last quarter. BlackRock Inc. lifted its position in BlackRock by 3.2% during the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after purchasing an additional 209,209 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of BlackRock by 2,450.2% during the third quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock worth $81,105,000 after acquiring an additional 174,554 shares in the last quarter. Institutional investors and hedge funds own 83.55% of the company’s stock.
BlackRock, Inc. (NYSE BLK) opened at $590.26 on Friday. The company has a market cap of $95,059.02, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 1.58 and a beta of 1.81. BlackRock, Inc. has a one year low of $365.83 and a one year high of $590.56. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89.
BlackRock (NYSE:BLK) last issued its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the firm earned $5.14 earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. sell-side analysts predict that BlackRock, Inc. will post 28.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be paid a $2.88 dividend. This represents a $11.52 annualized dividend and a dividend yield of 1.95%. This is an increase from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s payout ratio is presently 33.00%.
In related news, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the transaction, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction on Friday, November 17th. The stock was sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,525 shares of company stock worth $2,312,687. 1.86% of the stock is owned by insiders.
Several research firms have commented on BLK. Wells Fargo & Co reissued a “market perform” rating and set a $555.00 price target (up from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Argus reissued a “buy” rating and set a $620.00 price target (up from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Citigroup lifted their price target on shares of BlackRock to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Jefferies Group reissued a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target on the stock in a research note on Thursday, January 11th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $547.92.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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