Integrated Wealth Concepts LLC Grows Holdings in BlackRock, Inc. (NYSE:BLK)

Integrated Wealth Concepts LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 159.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,238 shares of the asset manager’s stock after buying an additional 1,375 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in BlackRock were worth $2,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of BlackRock by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager’s stock valued at $13,712,493,000 after purchasing an additional 68,405 shares during the last quarter. Capital World Investors grew its position in BlackRock by 2.3% during the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager’s stock valued at $4,200,450,000 after acquiring an additional 93,844 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of BlackRock by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock worth $3,072,787,000 after acquiring an additional 190,188 shares in the last quarter. FMR LLC lifted its holdings in shares of BlackRock by 1.1% in the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock worth $2,450,475,000 after acquiring an additional 26,485 shares during the last quarter. Finally, Norges Bank bought a new position in shares of BlackRock during the 4th quarter valued at $2,356,357,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the sale, the director now directly owns 3,720 shares in the company, valued at approximately $3,531,656.40. This trade represents a 10.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 12,430 shares of company stock worth $12,838,649 in the last 90 days. Insiders own 1.98% of the company’s stock.

BlackRock Stock Down 0.9 %

Shares of NYSE:BLK opened at $908.28 on Monday. The firm has a market capitalization of $141.01 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.90 and a beta of 1.38. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a 50 day moving average price of $922.02 and a 200-day moving average price of $983.87. BlackRock, Inc. has a 52-week low of $748.78 and a 52-week high of $1,084.22.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS 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 firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter in the previous year, the business posted $9.81 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a $5.21 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, March 7th. BlackRock’s payout ratio is currently 50.63%.

Wall Street Analyst Weigh In

Several analysts have issued reports on BLK shares. StockNews.com initiated coverage on shares of BlackRock in a research report on Tuesday, April 22nd. They set a “hold” rating for the company. Bank of America reduced their price target on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley lowered their price objective on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently 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.