iA Global Asset Management Inc. Purchases 584 Shares of BlackRock, Inc. (NYSE:BLK)

iA Global Asset Management Inc. lifted its position in BlackRock, Inc. (NYSE:BLK - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,625 shares of the asset manager's stock after purchasing an additional 584 shares during the period. iA Global Asset Management Inc.'s holdings in BlackRock were worth $4,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fidelity D & D Bancorp Inc. raised its holdings in BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager's stock valued at $263,000 after acquiring an additional 10 shares during the period. Princeton Global Asset Management LLC grew its position in shares of BlackRock by 8.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager's stock worth $128,000 after purchasing an additional 10 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in 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 valued at $1,311,000 after purchasing an additional 10 shares during the period. Legacy Capital Group California Inc. lifted its holdings in BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager's stock worth $377,000 after purchasing an additional 10 shares in the last quarter. Finally, Studio Investment Management LLC boosted its stake in BlackRock by 0.4% in the 3rd quarter. Studio Investment Management LLC now owns 3,076 shares of the asset manager's stock worth $2,921,000 after purchasing an additional 11 shares during the period. 80.69% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Wells Fargo & Company raised their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Morgan Stanley increased their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Finally, StockNews.com assumed coverage on BlackRock in a research note on Friday. They issued a "hold" rating on the stock. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,120.67.

BlackRock Trading Up 1.2 %

Shares of BlackRock stock traded up $11.19 on Tuesday, hitting $974.69. 566,671 shares of the company traded hands, compared to its average volume of 628,101. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The company has a market cap of $151.32 billion, a PE ratio of 23.21, a PEG ratio of 1.90 and a beta of 1.28. The stock's 50 day moving average price is $980.97 and its 200-day moving average price is $989.75. 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 issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $9.66 EPS. Equities research analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Friday, March 7th. This is a boost from BlackRock's previous quarterly dividend of $5.10. BlackRock's dividend payout ratio is presently 49.62%.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the company's stock in a transaction on 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 completion of the sale, the director now owns 68,433 shares in the company, valued at $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 20,430 shares of company stock worth $21,234,629. Corporate 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.