Bessemer Group Inc. Acquires 1,096 Shares of BlackRock, Inc. (NYSE:BLK)

Bessemer Group Inc. raised its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 35.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,201 shares of the asset manager's stock after acquiring an additional 1,096 shares during the period. Bessemer Group Inc.'s holdings in BlackRock were worth $4,306,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new position in BlackRock in the fourth quarter worth $26,000. Collier Financial bought a new position in shares of BlackRock during the 4th quarter worth about $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock during the 4th quarter valued at about $33,000. Atwood & Palmer Inc. bought a new stake in BlackRock in the fourth quarter valued at about $36,000. Finally, West Financial Advisors LLC acquired a new position in BlackRock in the fourth quarter worth about $39,000. Institutional investors own 80.69% of the company's stock.

BlackRock Trading Down 0.1 %

Shares of BLK stock traded down $0.74 on Tuesday, reaching $889.21. 350,363 shares of the stock were exchanged, compared to its average volume of 684,670. The stock has a 50 day moving average price of $939.58 and a 200 day moving average price of $987.88. The stock has a market cap of $138.05 billion, a PE ratio of 21.17, a P/E/G ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

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BlackRock (NYSE:BLK - Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter in the previous year, the company posted $9.81 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.34%. This is a boost from BlackRock's previous quarterly dividend of $5.10. The ex-dividend date of this dividend was Friday, March 7th. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. TD Cowen cut their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. 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 note on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price target 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. Finally, UBS Group decreased their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,077.08.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the sale, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 20,430 shares of company stock valued at $21,234,629. Company insiders own 0.90% of the company's stock.

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.