Donaldson Capital Management LLC lifted its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,805 shares of the asset manager's stock after purchasing an additional 551 shares during the quarter. BlackRock comprises approximately 2.0% of Donaldson Capital Management LLC's portfolio, making the stock its 19th largest holding. Donaldson Capital Management LLC's holdings in BlackRock were worth $53,105,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager's stock valued at $5,681,472,000 after purchasing an additional 42,757 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager's stock valued at $2,663,330,000 after purchasing an additional 30,182 shares during the last quarter. FMR LLC raised its position in BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager's stock worth $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC lifted its stake in BlackRock by 1.9% in the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager's stock worth $2,081,561,000 after purchasing an additional 40,865 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in BlackRock by 17.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,102,643 shares of the asset manager's stock valued at $1,130,330,000 after buying an additional 160,323 shares during the period. 80.69% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on BlackRock from $914.00 to $971.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods lowered their price objective on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. StockNews.com assumed coverage on shares of BlackRock in a report on Wednesday, March 5th. They issued a "hold" rating on the stock. Barclays dropped 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. Finally, Wells Fargo & Company upped their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,120.67.
Get Our Latest Stock Analysis on BLK
BlackRock Stock Performance
Shares of BLK traded up $0.75 during mid-day trading on Wednesday, hitting $911.12. 408,099 shares of the company traded hands, compared to its average volume of 845,406. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,084.22. 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 stock has a 50-day moving average price of $990.09 and a two-hundred day moving average price of $986.42. The stock has a market cap of $141.45 billion, a price-to-earnings ratio of 21.78, a P/E/G ratio of 1.90 and a beta of 1.29.
BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $9.66 EPS. The company's revenue for the quarter was up 22.6% on a year-over-year basis. Equities analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current year.
BlackRock Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.29%. This is a positive change from BlackRock's previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock's payout ratio is 49.62%.
Insiders Place Their Bets
In other news, Director J. Richard Kushel sold 430 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now owns 3,720 shares of the company's stock, valued at $3,531,656.40. This trade represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 20,430 shares of company stock worth $21,234,629. Company insiders own 0.90% of the company's stock.
BlackRock Company Profile
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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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