Tidal Investments LLC Purchases 5,553 Shares of BlackRock, Inc. (NYSE:BLK)

Tidal Investments LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 19.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,511 shares of the asset manager’s stock after purchasing an additional 5,553 shares during the period. Tidal Investments LLC’s holdings in BlackRock were worth $35,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in BLK. Princeton Global Asset Management LLC raised its position in BlackRock by 8.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after purchasing an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA raised its position in BlackRock by 0.8% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after purchasing an additional 10 shares during the period. Legacy Capital Group California Inc. raised its position in BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after purchasing an additional 10 shares during the period. Marino Stram & Associates LLC raised its position in BlackRock by 0.3% in the 4th quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager’s stock worth $3,496,000 after purchasing an additional 11 shares during the period. Finally, Mascoma Wealth Management LLC increased its position in shares of BlackRock by 9.5% during the fourth quarter. Mascoma Wealth Management LLC now owns 127 shares of the asset manager’s stock worth $130,000 after acquiring an additional 11 shares during the period. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. UBS Group reduced their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. TD Cowen reduced their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Bank of America reduced their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,077.08.

Insider Buying and Selling at BlackRock

In other BlackRock 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 sale, the director now directly owns 3,720 shares in the company, valued at $3,531,656.40. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 12,430 shares of company stock worth $11,237,249 over the last three months. Corporate insiders own 1.98% of the company’s stock.

BlackRock Price Performance

Shares of BLK opened at $989.39 on Friday. The company has a market cap of $153.61 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a twelve month low of $752.30 and a twelve month high of $1,084.22. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $916.06 and a two-hundred day moving average of $978.06.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $9.81 earnings per share. As a group, analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be paid a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a yield of 2.11%. BlackRock’s dividend payout ratio (DPR) is 50.63%.

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.