State of Tennessee Treasury Department raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,272 shares of the asset manager’s stock after acquiring an additional 8,560 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.06% of BlackRock worth $46,888,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of BLK. BlackRock Inc. increased its stake in shares of BlackRock by 4.4% in the fourth quarter. BlackRock Inc. now owns 7,255,797 shares of the asset manager’s stock valued at $3,727,377,000 after buying an additional 307,213 shares in the last quarter. Legal & General Group Plc increased its stake in shares of BlackRock by 2.3% in the third quarter. Legal & General Group Plc now owns 608,209 shares of the asset manager’s stock valued at $271,924,000 after buying an additional 13,939 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of BlackRock by 1.4% in the third quarter. TD Asset Management Inc. now owns 449,827 shares of the asset manager’s stock valued at $201,113,000 after buying an additional 6,394 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of BlackRock by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 437,350 shares of the asset manager’s stock valued at $224,672,000 after buying an additional 19,152 shares in the last quarter. Finally, Atlantic Trust Group LLC increased its stake in shares of BlackRock by 24.1% in the third quarter. Atlantic Trust Group LLC now owns 372,168 shares of the asset manager’s stock valued at $166,393,000 after buying an additional 72,186 shares in the last quarter. 82.37% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Argus restated a “buy” rating and issued a $620.00 target price (up from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Citigroup lowered BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price for the company. in a research note on Thursday, January 25th. Wells Fargo & Co restated a “market perform” rating and issued a $555.00 target price (up from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Finally, Credit Suisse Group restated a “buy” rating and issued a $680.00 target price on shares of BlackRock in a research note on Friday, January 12th. Five equities 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 stock currently has a consensus rating of “Buy” and an average price target of $547.92.
In other news, insider Jeff A. Smith sold 425 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total transaction of $240,533.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deryck C. Maughan bought 3,861 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were bought at an average price of $573.44 per share, with a total value of $2,214,051.84. Following the completion of the transaction, the director now directly 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 sold 19,311 shares of company stock valued at $10,255,887. Corporate insiders own 1.86% of the company’s stock.
Shares of BlackRock, Inc. (NYSE:BLK) opened at $549.69 on Thursday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $87,383.55, a PE ratio of 23.96, a P/E/G ratio of 1.46 and a beta of 1.76. BlackRock, Inc. has a 12-month low of $368.00 and a 12-month high of $594.52.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion during 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 revenue was up 20.0% on a year-over-year basis. During the same period last year, the company earned $5.14 earnings per share. analysts anticipate that BlackRock, Inc. will post 28.5 EPS 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 given a $2.88 dividend. This represents a $11.52 dividend on an annualized basis and a yield of 2.10%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio (DPR) is presently 33.00%.
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BlackRock Company Profile
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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