Garner Asset Management Corp boosted its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 25.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,412 shares of the asset manager's stock after acquiring an additional 700 shares during the quarter. BlackRock accounts for approximately 1.6% of Garner Asset Management Corp's investment portfolio, making the stock its 15th biggest position. Garner Asset Management Corp's holdings in BlackRock were worth $3,498,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fidelity D & D Bancorp Inc. grew its holdings in shares of BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager's stock valued at $263,000 after purchasing an additional 10 shares in the last quarter. Princeton Global Asset Management LLC boosted 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 valued at $128,000 after buying an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of BlackRock by 0.8% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager's stock worth $1,311,000 after acquiring an additional 10 shares in the last quarter. Legacy Capital Group California Inc. increased its position in shares of BlackRock by 2.8% during the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager's stock worth $377,000 after acquiring an additional 10 shares during the period. Finally, Marino Stram & Associates LLC boosted its holdings in BlackRock by 0.3% in the fourth quarter. Marino Stram & Associates LLC now owns 3,410 shares of the asset manager's stock valued at $3,496,000 after purchasing an additional 11 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
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 dated Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now owns 68,433 shares of the company's stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by company insiders.
BlackRock Stock Performance
Shares of BLK stock traded down $0.74 during mid-day trading on Tuesday, hitting $889.21. 516,178 shares of the stock were exchanged, compared to its average volume of 683,689. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month 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 market capitalization of $138.05 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 1.90 and a beta of 1.38. The stock's fifty day simple moving average is $937.25 and its two-hundred day simple moving average is $987.19.
BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping the consensus estimate of $10.84 by $0.46. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.81 earnings per share. On average, analysts forecast 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 given a dividend of $5.21 per share. This is an increase from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Friday, March 7th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. StockNews.com assumed coverage on BlackRock in a report on Monday. They set a "hold" rating on the stock. Keefe, Bruyette & Woods reduced their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating on the stock in a report on Monday, January 13th. Wells Fargo & Company lowered their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating for the company in a report on Monday. Bank of America reduced their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Finally, UBS Group lowered their target price on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,077.08.
Check Out Our Latest Stock Analysis on BLK
About BlackRock
(
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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