62 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. bought a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 62 shares of the asset manager’s stock, valued at approximately $64,000.

Other hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in shares of BlackRock in the 3rd quarter worth about $26,000. IAG Wealth Partners LLC bought a new position in shares of BlackRock in the 4th quarter worth about $26,000. Collier Financial bought a new position in shares of BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock in the 4th quarter worth about $33,000. Finally, Atwood & Palmer Inc. bought a new position in shares of BlackRock in the 4th quarter worth about $36,000. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 20,430 shares of company stock worth $21,234,629 in the last 90 days. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BLK shares. StockNews.com assumed coverage on BlackRock in a research report on Friday. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Citigroup raised their target price on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, Morgan Stanley raised their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

BLK stock opened at $950.43 on Friday. The company has a market capitalization of $147.56 billion, a P/E ratio of 22.63, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The business has a 50-day simple moving average of $980.77 and a two-hundred day simple moving average of $988.41.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the business earned $9.66 EPS. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Research analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is presently 49.62%.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.