Addison Capital Co Increases Holdings in BlackRock, Inc. (NYSE:BLK)

Addison Capital Co increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,405 shares of the asset manager’s stock after purchasing an additional 46 shares during the period. BlackRock accounts for 1.4% of Addison Capital Co’s investment portfolio, making the stock its 22nd largest position. Addison Capital Co’s holdings in BlackRock were worth $3,490,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in BLK. United Bank lifted its stake in BlackRock by 1.1% in the 3rd quarter. United Bank now owns 1,121 shares of the asset manager’s stock worth $1,064,000 after purchasing an additional 12 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of BlackRock in the third quarter worth $334,000. OneDigital Investment Advisors LLC boosted its stake in BlackRock by 5.4% during the third quarter. OneDigital Investment Advisors LLC now owns 2,749 shares of the asset manager’s stock valued at $2,610,000 after buying an additional 142 shares during the period. Empowered Funds LLC increased its stake in BlackRock by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 2,713 shares of the asset manager’s stock worth $2,576,000 after acquiring an additional 228 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of BlackRock by 8.6% in the 3rd quarter. Natixis Advisors LLC now owns 99,478 shares of the asset manager’s stock valued at $94,455,000 after acquiring an additional 7,881 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BLK. Citigroup upped their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company increased their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Up 3.1 %

Shares of BlackRock stock opened at $928.74 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The company’s 50 day moving average price is $983.61 and its 200-day moving average price is $986.99. The stock has a market capitalization of $144.19 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the firm earned $9.66 EPS. Equities research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.24%. BlackRock’s dividend payout ratio is presently 49.62%.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is currently owned by company insiders.

BlackRock Company 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.