Brown Brothers Harriman & Co. grew its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,745 shares of the asset manager's stock after purchasing an additional 503 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in BlackRock were worth $31,517,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Fidelity D & D Bancorp Inc. lifted its stake in shares of BlackRock by 3.7% in the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager's stock worth $263,000 after acquiring an additional 10 shares during the period. Princeton Global Asset Management LLC boosted its holdings in BlackRock by 8.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager's stock valued at $128,000 after purchasing an additional 10 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of BlackRock by 0.8% during 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 buying an additional 10 shares in the last quarter. Legacy Capital Group California Inc. lifted its holdings in shares of BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager's stock valued at $377,000 after buying an additional 10 shares during the period. Finally, Marino Stram & Associates LLC lifted its holdings in shares of BlackRock by 0.3% in the 4th quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager's stock valued at $3,496,000 after buying an additional 11 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at BlackRock
In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the transaction, the director now owns 68,433 shares in the company, valued at $69,117,330. This represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 20,430 shares of company stock valued at $21,234,629 over the last quarter. Company insiders own 0.90% of the company's stock.
BlackRock Trading Down 0.5 %
Shares of BlackRock stock traded down $4.67 during trading hours on Monday, reaching $942.03. 596,222 shares of the company's stock were exchanged, compared to its average volume of 894,945. The firm has a market capitalization of $146.25 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. The company has a fifty day moving average of $978.66 and a 200-day moving average of $992.24. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.
BlackRock (NYSE:BLK - Get Free Report) last released its 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. The business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company's quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the company earned $9.66 earnings per share. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.
BlackRock Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend 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 currently 49.62%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. UBS Group raised their target price on BlackRock from $1,017.00 to $1,045.00 and gave the company a "neutral" rating in a report on Tuesday, January 21st. Barclays reduced their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Citigroup lifted their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a report on Monday, December 23rd. Finally, Morgan Stanley raised their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Three 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 a consensus rating of "Moderate Buy" and an average target price of $1,120.67.
Get Our Latest Analysis on BLK
BlackRock Company Profile
(
Free Report)
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.
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