BlackRock, Inc. (NYSE:BLK) Shares Purchased by Acorns Advisers LLC

Acorns Advisers LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 378 shares of the asset manager’s stock after purchasing an additional 37 shares during the quarter. Acorns Advisers LLC’s holdings in BlackRock were worth $387,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Morse Asset Management Inc acquired a new position in shares of BlackRock in the 3rd quarter valued at about $66,000. Invst LLC lifted its position in BlackRock by 2.2% during the third quarter. Invst LLC now owns 2,435 shares of the asset manager’s stock valued at $2,312,000 after buying an additional 52 shares in the last quarter. Wealthquest Corp purchased a new stake in BlackRock during the third quarter worth approximately $225,000. Tudor Financial Inc. acquired a new stake in shares of BlackRock in the third quarter worth $399,000. Finally, Anchor Investment Management LLC raised its stake in shares of BlackRock by 31.8% in the 3rd quarter. Anchor Investment Management LLC now owns 791 shares of the asset manager’s stock valued at $751,000 after acquiring an additional 191 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Performance

BlackRock stock opened at $889.21 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22. The company has a fifty day moving average price of $937.25 and a two-hundred day moving average price of $987.19. The company has a market cap of $138.05 billion, a PE ratio of 21.17, a P/E/G ratio of 1.90 and a beta of 1.38.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the prior year, the firm earned $9.81 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.34%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is currently 50.63%.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Bank of America decreased their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Citigroup dropped their price target on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday. TD Cowen lowered their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group cut their price target on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,077.08.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 20,430 shares of company stock worth $21,234,629 in the last three months. 0.90% of the stock is owned by insiders.

About BlackRock

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.