BlackRock, Inc. (NYSE:BLK) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC reduced its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 32.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,514 shares of the asset manager's stock after selling 7,119 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in BlackRock were worth $14,878,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Norges Bank acquired a new position in BlackRock during the fourth quarter worth $2,356,357,000. Proficio Capital Partners LLC raised its holdings in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock worth $634,000 after purchasing an additional 633,779 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in BlackRock during the fourth quarter worth $572,730,000. Amundi acquired a new position in BlackRock during the fourth quarter worth $528,792,000. Finally, Montrusco Bolton Investments Inc. acquired a new position in BlackRock during the fourth quarter worth $343,976,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BLK. StockNews.com began coverage on BlackRock in a report on Tuesday, April 22nd. They issued a "hold" rating for the company. TD Cowen cut their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft boosted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. UBS Group dropped their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Citigroup lowered their price target on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

BlackRock Trading Up 0.8 %

Shares of BLK stock traded up $7.18 during mid-day trading on Monday, reaching $914.87. The company's stock had a trading volume of 685,176 shares, compared to its average volume of 685,214. The company's 50 day simple moving average is $922.02 and its 200-day simple moving average is $983.87. BlackRock, Inc. has a 12-month low of $748.78 and a 12-month high of $1,084.22. 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 capitalization of $142.04 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the firm earned $9.81 EPS. BlackRock's quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a dividend of $5.21 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.28%. This is an increase from BlackRock's previous quarterly dividend of $5.10. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the sale, the director now owns 3,720 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Over the last quarter, insiders sold 12,430 shares of company stock valued at $12,838,649. 1.98% of the stock is currently owned by corporate insiders.

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.