State of Alaska Department of Revenue raised its stake in BlackRock, Inc. (NYSE:BLK) by 544.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,128 shares of the asset manager’s stock after acquiring an additional 10,246 shares during the period. 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).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heritage Way Advisors LLC raised its holdings in BlackRock by 87.8% during the fourth quarter. Heritage Way Advisors LLC now owns 10,004 shares of the asset manager’s stock worth $5,139,000 after purchasing an additional 4,677 shares in the last quarter. Oakbrook Investments LLC purchased a new position in shares of BlackRock during the 4th quarter worth approximately $2,877,000. Acadian Asset Management LLC increased its stake in shares of BlackRock by 284.8% during the 4th quarter. Acadian Asset Management LLC now owns 2,778 shares of the asset manager’s stock worth $1,427,000 after purchasing an additional 2,056 shares in the last quarter. Berkshire Asset Management LLC PA increased its stake in shares of BlackRock by 33.0% during the 4th quarter. Berkshire Asset Management LLC PA now owns 899 shares of the asset manager’s stock worth $462,000 after purchasing an additional 223 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of BlackRock by 4.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 437,350 shares of the asset manager’s stock worth $224,672,000 after purchasing an additional 19,152 shares in the last quarter. Institutional investors own 83.15% of the company’s stock.
BLK has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price on the stock in a research report on Thursday, January 11th. Citigroup lifted their price target on shares of BlackRock to $625.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Jefferies Group boosted their target price on shares of BlackRock to $565.00 and gave the company a “hold” rating in a research note on Monday, January 15th. Credit Suisse Group reissued a “buy” rating and set a $680.00 target price on shares of BlackRock in a research note on Friday, January 12th. Finally, Wells Fargo & Co reissued a “market perform” rating and set a $555.00 target price (up from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $547.92.
Shares of BlackRock, Inc. (BLK) traded up $3.87 on Monday, reaching $525.38. 613,425 shares of the company were exchanged, compared to its average volume of 714,473. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. The stock has a market capitalization of $84,240.00, a P/E ratio of 17.34, a PEG ratio of 1.40 and a beta of 1.75. BlackRock, Inc. has a 52-week low of $368.00 and a 52-week high of $594.52.
BlackRock (NYSE:BLK) last posted its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.14 earnings per share. equities analysts predict that BlackRock, Inc. will post 28.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This is an increase from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio is currently 33.00%.
In other news, insider Jeff A. Smith sold 100 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deryck C. Maughan acquired 3,861 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was acquired at an average price of $573.44 per share, with a total value of $2,214,051.84. Following the purchase, the director now owns 12,265 shares in the company, valued at approximately $7,033,241.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 5,775 shares of company stock valued at $2,983,400. Corporate insiders own 1.86% of the company’s stock.
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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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