DnB Asset Management AS boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,741 shares of the asset manager’s stock after purchasing an additional 1,300 shares during the period. DnB Asset Management AS’s holdings in BlackRock were worth $8,600,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Aperio Group LLC increased its stake in shares of BlackRock by 8.6% in the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock valued at $30,732,000 after buying an additional 5,451 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of BlackRock in the 3rd quarter valued at $222,000. WFG Advisors LP increased its stake in shares of BlackRock by 66.6% in the 2nd quarter. WFG Advisors LP now owns 1,096 shares of the asset manager’s stock valued at $463,000 after buying an additional 438 shares during the period. New York State Common Retirement Fund increased its stake in shares of BlackRock by 9.7% in the 3rd quarter. New York State Common Retirement Fund now owns 357,800 shares of the asset manager’s stock valued at $159,969,000 after buying an additional 31,600 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of BlackRock by 4.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 418,198 shares of the asset manager’s stock valued at $186,973,000 after buying an additional 17,491 shares during the period. 83.27% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on BLK shares. Argus reaffirmed a “buy” rating and set a $620.00 price objective (up from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Credit Suisse Group reaffirmed a “buy” rating and set a $680.00 price objective on shares of BlackRock in a research note on Friday, January 12th. Citigroup lifted their price objective on BlackRock to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Jefferies Group lifted their target price on BlackRock to $565.00 and gave the stock a “hold” rating in a report on Monday, January 15th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $500.00 target price on shares of BlackRock in a report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $547.92.
Shares of BlackRock, Inc. (BLK) traded down $16.87 during trading on Friday, hitting $548.32. The stock had a trading volume of 808,150 shares, compared to its average volume of 583,852. The company has a market capitalization of $87,910.00, a price-to-earnings ratio of 18.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. BlackRock, Inc. has a 12 month low of $368.00 and a 12 month high of $594.52. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.30. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.14 earnings per share. analysts expect that BlackRock, Inc. will post 28.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be given a $2.88 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is currently 33.00%.
In related news, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the sale, the director now owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Deryck C. Maughan bought 3,861 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was bought at an average cost of $573.44 per share, for a total transaction of $2,214,051.84. Following the transaction, the director now owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 4,525 shares of company stock worth $2,312,687. 1.86% of the stock is owned by company insiders.
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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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