Zevenbergen Capital Investments LLC Sells 15 Shares of BlackRock, Inc. (NYSE:BLK)

Zevenbergen Capital Investments LLC cut its stake in BlackRock, Inc. (NYSE:BLK) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,453 shares of the asset manager’s stock after selling 15 shares during the period. Zevenbergen Capital Investments LLC’s holdings in BlackRock were worth $4,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. United Bank raised its holdings in BlackRock by 1.1% during the third quarter. United Bank now owns 1,121 shares of the asset manager’s stock worth $1,064,000 after acquiring an additional 12 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of BlackRock by 3.7% during the 3rd quarter. Pacer Advisors Inc. now owns 10,310 shares of the asset manager’s stock worth $9,789,000 after purchasing an additional 369 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of BlackRock by 8.5% in the third quarter. Great Valley Advisor Group Inc. now owns 3,923 shares of the asset manager’s stock valued at $3,725,000 after buying an additional 306 shares in the last quarter. Okabena Investment Services Inc. increased its holdings in BlackRock by 7.4% during the third quarter. Okabena Investment Services Inc. now owns 1,548 shares of the asset manager’s stock worth $1,470,000 after buying an additional 107 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its stake in BlackRock by 3.3% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 14,622 shares of the asset manager’s stock valued at $13,883,000 after acquiring an additional 466 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 430 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was 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 owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley raised their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. UBS Group increased their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Wells Fargo & Company upped their target price 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. Finally, Barclays dropped their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Trading Down 0.4 %

Shares of BLK stock opened at $950.43 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 fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The company has a market cap of $147.56 billion, a PE ratio of 22.63, a P/E/G ratio of 1.90 and a beta of 1.28. The stock’s fifty day moving average price is $980.77 and its two-hundred day moving average price is $989.13.

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

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.19%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is presently 49.62%.

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.