KMG Fiduciary Partners LLC Takes $8.69 Million Position in BlackRock, Inc. (NYSE:BLK)

KMG Fiduciary Partners LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,480 shares of the asset manager's stock, valued at approximately $8,693,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted 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 worth $5,681,472,000 after purchasing an additional 42,757 shares in the last quarter. Geode Capital Management LLC raised its position in BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager's stock worth $2,663,330,000 after acquiring an additional 30,182 shares during the last quarter. FMR LLC grew its position in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager's stock valued at $2,244,608,000 after purchasing an additional 226,135 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of BlackRock by 1.9% during the 3rd 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, Ameriprise Financial Inc. lifted its position in shares of BlackRock by 2.9% in the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager's stock valued at $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Transactions at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BLK shares. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a report on Thursday. Citigroup increased their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods lowered 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 research note on Monday. The Goldman Sachs Group lifted their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,103.33.

BlackRock Stock Performance

BLK traded up $11.15 during trading on Friday, reaching $1,006.87. 668,367 shares of the company were exchanged, compared to its average volume of 806,314. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $1,028.86 and a 200 day moving average of $944.29. The stock has a market cap of $155.94 billion, a P/E ratio of 24.84, a PEG ratio of 1.53 and a beta of 1.28.

BlackRock (NYSE:BLK - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS 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 analyst estimates of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.66 earnings per share. On average, sell-side analysts forecast that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were issued a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock's dividend payout ratio (DPR) is presently 50.35%.

About BlackRock

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.