BI Asset Management Fondsmaeglerselskab A S Raises Stake in BlackRock, Inc. (NYSE:BLK)

BI Asset Management Fondsmaeglerselskab A S raised its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 62.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,038 shares of the asset manager's stock after acquiring an additional 2,315 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in BlackRock were worth $6,190,000 as of its most recent SEC filing.

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

BlackRock Price Performance

Shares of BLK traded up $7.37 during mid-day trading on Wednesday, reaching $894.59. The stock had a trading volume of 553,053 shares, compared to its average volume of 685,051. The business has a fifty day moving average of $926.10 and a 200 day moving average of $984.56. 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 $138.89 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a 12 month low of $748.02 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same period last year, the firm posted $9.81 EPS. The company's revenue was up 11.6% on a year-over-year basis. Equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a $5.21 dividend. This is a boost from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, March 7th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a report on Thursday, January 16th. StockNews.com assumed coverage on shares of BlackRock in a research note on Tuesday. They set a "hold" rating for the company. Morgan Stanley lowered their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. UBS Group reduced their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, TD Cowen dropped their target price on 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. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,077.08.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 430 shares of the firm's stock in a transaction dated 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 owns 3,720 shares in the company, valued at approximately $3,531,656.40. This trade represents a 10.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by company insiders.

About BlackRock

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.