Napatree Capital LLC Has $509,000 Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Napatree Capital LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 497 shares of the asset manager’s stock after selling 71 shares during the period. Napatree Capital LLC’s holdings in BlackRock were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BLK. Proficio Capital Partners LLC raised its stake in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after buying an additional 633,779 shares during the last quarter. Amundi bought a new position in BlackRock during the fourth quarter worth $528,792,000. Montrusco Bolton Investments Inc. acquired a new stake in BlackRock in the fourth quarter worth $343,976,000. Assenagon Asset Management S.A. acquired a new stake in BlackRock in the fourth quarter worth $330,662,000. Finally, National Pension Service acquired a new stake in BlackRock in the fourth quarter worth $322,097,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the transaction, the director now owns 3,720 shares of the company’s stock, valued at $3,531,656.40. The trade was a 10.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 20,430 shares of company stock valued at $21,234,629. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BLK. Wells Fargo & Company lifted their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup lifted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. StockNews.com initiated coverage on shares of BlackRock in a report on Friday. They set a “hold” rating for the company. Finally, Morgan Stanley lifted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

Shares of BLK stock opened at $950.43 on Friday. The firm has a market cap of $147.56 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.90 and a beta of 1.28. 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 firm’s 50-day simple moving average is $980.77 and its two-hundred day simple moving average is $988.41.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the firm posted $9.66 earnings per share. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, 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 will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is 49.62%.

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.