Flinton Capital Management LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 25.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,712 shares of the asset manager’s stock after acquiring an additional 352 shares during the quarter. Flinton Capital Management LLC’s holdings in BlackRock were worth $879,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position 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 purchasing an additional 307,213 shares during the period. Fred Alger Management Inc. raised its position in shares of BlackRock by 2,347.6% in the fourth quarter. Fred Alger Management Inc. now owns 185,965 shares of the asset manager’s stock valued at $95,532,000 after purchasing an additional 178,367 shares during the period. Stifel Financial Corp raised its position in shares of BlackRock by 2,450.2% in the third quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock valued at $81,105,000 after purchasing an additional 174,554 shares during the period. Amundi Pioneer Asset Management Inc. raised its position in shares of BlackRock by 31.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 442,328 shares of the asset manager’s stock valued at $227,228,000 after purchasing an additional 106,315 shares during the period. Finally, Mackenzie Financial Corp bought a new position in shares of BlackRock in the fourth quarter valued at about $53,310,000. 84.74% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on BLK. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective on the stock in a research report on Thursday, January 11th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $640.00 price objective on shares of BlackRock in a research report on Wednesday, March 14th. Jefferies Group increased their price objective on shares of BlackRock to $565.00 and gave the company a “hold” rating in a research report on Monday, January 15th. Citigroup increased their price objective on shares of BlackRock to $625.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo reissued a “market perform” rating and issued a $555.00 price objective (up from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. BlackRock has an average rating of “Buy” and an average price target of $567.15.
BlackRock stock opened at $563.66 on Monday. BlackRock, Inc. has a 1 year low of $368.00 and a 1 year high of $594.52. The company has a market cap of $90,590.30, a PE ratio of 24.89, a P/E/G ratio of 1.52 and a beta of 1.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.94 and a current ratio of 2.94.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the firm earned $5.14 earnings per share. BlackRock’s revenue for the quarter was up 20.0% compared to the same quarter last year. analysts anticipate that BlackRock, Inc. will post 28.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a yield of 2.04%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. The ex-dividend date is Tuesday, March 6th. BlackRock’s dividend payout ratio (DPR) is currently 38.02%.
In other BlackRock news, COO Robert L. Goldstein sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $558.00, for a total transaction of $2,790,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Deryck C. Maughan acquired 3,861 shares of BlackRock stock in a transaction on Wednesday, January 17th. The shares were purchased at an average price of $573.44 per share, for a total transaction of $2,214,051.84. Following the completion of the purchase, the director now directly owns 12,265 shares of the company’s stock, valued at $7,033,241.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 20,961 shares of company stock worth $11,375,444. 1.86% of the stock is owned by 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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