IFM Investors Pty Ltd boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,713 shares of the asset manager’s stock after purchasing an additional 2,166 shares during the period. IFM Investors Pty Ltd’s holdings in BlackRock were worth $10,616,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. FMR LLC lifted its stake in shares of BlackRock by 182.3% in the 2nd quarter. FMR LLC now owns 3,699,444 shares of the asset manager’s stock valued at $2,012,831,000 after purchasing an additional 2,388,836 shares during the last quarter. Principal Financial Group Inc. lifted its position in BlackRock by 27.3% in the second quarter. Principal Financial Group Inc. now owns 690,699 shares of the asset manager’s stock valued at $375,803,000 after buying an additional 148,192 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in BlackRock by 69.3% in the third quarter. Epoch Investment Partners Inc. now owns 315,268 shares of the asset manager’s stock valued at $177,669,000 after buying an additional 129,051 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in BlackRock by 10.7% during the third quarter. Nuveen Asset Management LLC now owns 804,469 shares of the asset manager’s stock worth $453,359,000 after buying an additional 77,637 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of BlackRock by 16.8% during the third quarter. CIBC Private Wealth Group LLC now owns 453,315 shares of the asset manager’s stock valued at $255,456,000 after acquiring an additional 65,228 shares during the last quarter. 79.10% of the stock is currently owned by institutional investors.
BLK stock traded up $2.01 during mid-day trading on Wednesday, reaching $779.75. The company had a trading volume of 834,733 shares, compared to its average volume of 650,061. The firm has a fifty day simple moving average of $714.60 and a 200 day simple moving average of $623.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.01. The company has a market capitalization of $118.92 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16. BlackRock, Inc. has a fifty-two week low of $323.98 and a fifty-two week high of $788.00.
BlackRock (NYSE:BLK) last released its earnings results on Sunday, October 18th. The asset manager reported $9.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.45 by $1.77. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $3.89 billion. BlackRock had a net margin of 29.83% and a return on equity of 14.91%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.15 earnings per share. As a group, analysts predict that BlackRock, Inc. will post 32.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 21st. Shareholders of record on Friday, December 4th were issued a dividend of $3.63 per share. This represents a $14.52 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, December 3rd. BlackRock’s dividend payout ratio (DPR) is presently 50.98%.
A number of research firms recently weighed in on BLK. Barclays increased their price objective on shares of BlackRock from $625.00 to $700.00 in a research report on Wednesday, October 14th. Morgan Stanley raised their price target on BlackRock from $750.00 to $890.00 and gave the stock an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $795.00 to $802.00 and gave the company a “buy” rating in a research note on Friday, December 18th. Citigroup increased their target price on BlackRock from $690.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Finally, Wells Fargo & Company lifted their target price on BlackRock from $700.00 to $805.00 and gave the company an “overweight” rating in a research report on Wednesday, December 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and an average price target of $684.17.
In related news, Director Mark Wiedman sold 290 shares of the stock in a transaction on Wednesday, November 25th. The stock was sold at an average price of $698.71, for a total value of $202,625.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Christopher J. Meade sold 179 shares of BlackRock stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $710.50, for a total value of $127,179.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,018 shares of company stock worth $3,209,898. Insiders own 1.42% of the company’s stock.
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.
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