Forsta AP Fonden purchased a new stake in BlackRock, Inc. (NYSE:BLK – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 39,800 shares of the asset manager’s stock, valued at approximately $40,799,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new position in shares of BlackRock during the third quarter valued at about $26,000. Atwood & Palmer Inc. bought a new stake in BlackRock during the 4th quarter valued at approximately $36,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter worth approximately $37,000. MFA Wealth Advisors LLC raised its position in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares in the last quarter. Finally, West Financial Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $39,000. 80.69% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have commented on BLK shares. Evercore ISI raised their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. TD Cowen upped their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted their price target on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their price objective 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, Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,120.67.
BlackRock Stock Up 2.1 %
Shares of BLK stock opened at $1,051.91 on Wednesday. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The company has a 50 day simple moving average of $1,024.30 and a two-hundred day simple moving average of $958.99. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market cap of $162.92 billion, a P/E ratio of 25.05, a P/E/G ratio of 1.82 and a beta of 1.28.
BlackRock (NYSE:BLK – Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.66 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 47.43 earnings per share for the current year.
BlackRock Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.
Insiders Place Their Bets
In other news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,190 shares of company stock valued at $104,436,741 in the last quarter. 0.90% of the stock is currently owned by insiders.
BlackRock 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.
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