BlackRock, Inc. (NYSE:BLK) Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 62.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,038 shares of the asset manager’s stock after purchasing an additional 2,315 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in BlackRock were worth $6,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fidelity D & D Bancorp Inc. boosted its position in shares of BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after acquiring an additional 10 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in BlackRock by 8.7% in the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock valued at $128,000 after acquiring an additional 10 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in BlackRock by 0.8% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after acquiring an additional 10 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in shares of BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock valued at $377,000 after purchasing an additional 10 shares in the last quarter. Finally, Marino Stram & Associates LLC increased its position in BlackRock by 0.3% during the 4th quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager’s stock worth $3,496,000 after purchasing an additional 11 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

BLK opened at $875.86 on Friday. BlackRock, Inc. has a 12-month low of $748.02 and a 12-month high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $135.98 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. The stock’s 50 day moving average price is $930.31 and its two-hundred day moving average price is $985.65.

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

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a $5.21 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date was Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.38%. BlackRock’s dividend payout ratio is presently 50.63%.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares in the company, valued at $73,403,973.12. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 20,430 shares of company stock valued at $21,234,629. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BLK shares. Morgan Stanley cut their target price on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Citigroup decreased their price target on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating for the company in a report on Monday, April 14th. TD Cowen decreased their target price on shares of 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. UBS Group decreased their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,077.08.

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.