SevenBridge Financial Group LLC Has $1.65 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

SevenBridge Financial Group LLC raised its holdings in BlackRock, Inc. (NYSE:BLK) by 27.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,671 shares of the asset manager’s stock after buying an additional 359 shares during the quarter. SevenBridge Financial Group LLC’s holdings in BlackRock were worth $1,651,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in BlackRock during the fourth quarter worth $2,356,357,000. Proficio Capital Partners LLC increased its holdings in shares of BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after purchasing an additional 633,779 shares during the period. Amundi acquired a new position in shares of BlackRock during the fourth quarter valued at about $528,792,000. Montrusco Bolton Investments Inc. bought a new stake in shares of BlackRock in the fourth quarter valued at about $343,976,000. Finally, Assenagon Asset Management S.A. acquired a new stake in BlackRock during the fourth quarter worth about $330,662,000. 80.69% of the stock is owned by institutional investors.

BlackRock Price Performance

BlackRock stock opened at $944.75 on Wednesday. The business’s fifty day moving average is $976.19 and its two-hundred day moving average is $993.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm has a market cap of $146.68 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week 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 (EPS) for the quarter, topping 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 business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the company earned $9.66 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. Equities research analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is 49.62%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wells Fargo & Company raised their price objective 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. Morgan Stanley boosted their price target 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. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. UBS Group upped their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Finally, Citigroup lifted their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average target price of $1,120.67.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of 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 through this link. In the last quarter, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by corporate 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.