Geode Capital Management LLC Acquires 190,188 Shares of BlackRock, Inc. (NYSE:BLK)

Geode Capital Management LLC raised its stake in shares of BlackRock, Inc. (NYSE:BLK) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,006,765 shares of the asset manager’s stock after purchasing an additional 190,188 shares during the period. Geode Capital Management LLC owned 1.94% of BlackRock worth $3,072,787,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Norges Bank bought a new position in BlackRock during the 4th quarter worth approximately $2,356,357,000. 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 stake in BlackRock during the fourth quarter valued at $528,792,000. Montrusco Bolton Investments Inc. acquired a new stake in BlackRock during the 4th quarter worth about $343,976,000. Finally, Assenagon Asset Management S.A. acquired a new stake in BlackRock during the fourth quarter worth approximately $330,662,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Performance

Shares of BlackRock stock opened at $947.45 on Tuesday. The firm has a market capitalization of $147.09 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. 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 business’s fifty day simple moving average is $977.53 and its 200 day simple moving average is $992.68. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.57 billion. During the same period in the previous year, the firm earned $9.66 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a $5.21 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is currently 49.62%.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 430 shares of the firm’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 directly owns 3,720 shares of the company’s stock, valued at approximately $3,531,656.40. This trade represents a 10.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BLK shares. StockNews.com initiated coverage on shares of BlackRock in a research note on Saturday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

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.