KLP Kapitalforvaltning AS Takes Position in BlackRock, Inc. (NYSE:BLK)

KLP Kapitalforvaltning AS purchased a new position in BlackRock, Inc. (NYSE:BLK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 50,055 shares of the asset manager's stock, valued at approximately $51,312,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BLK. Proficio Capital Partners LLC boosted its holdings in BlackRock by 138,682.5% in the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock worth $634,000 after acquiring an additional 633,779 shares in the last quarter. Amundi acquired a new position in shares of BlackRock during the fourth quarter worth approximately $528,792,000. Montrusco Bolton Investments Inc. bought a new position in shares of BlackRock in the 4th quarter worth $343,976,000. Assenagon Asset Management S.A. acquired a new stake in BlackRock in the 4th quarter valued at $330,662,000. Finally, National Pension Service bought a new stake in BlackRock during the 4th quarter valued at $322,097,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BLK shares. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a report on Monday, January 13th. StockNews.com began coverage on BlackRock in a research note on Friday, March 21st. They set a "hold" rating for the company. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Barclays decreased their price target on BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Finally, Wells Fargo & Company increased their price target 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. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,120.67.

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BlackRock Stock Performance

BLK traded down $4.69 during trading on Wednesday, hitting $968.79. 667,553 shares of the company traded hands, compared to its average volume of 629,900. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The stock's fifty day moving average is $980.33 and its 200 day moving average is $990.36. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a market cap of $150.41 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts' consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company's revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.66 EPS. As a group, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a $5.21 dividend. The ex-dividend date was Friday, March 7th. This is a positive change from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. BlackRock's payout ratio is presently 49.62%.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the sale, the director now directly owns 3,720 shares of the company's stock, valued at $3,531,656.40. This represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by company insiders.

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.