Merit Financial Group LLC Grows Stake in BlackRock, Inc. (NYSE:BLK)

Merit Financial Group LLC grew its position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 23.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,676 shares of the asset manager's stock after purchasing an additional 2,386 shares during the quarter. Merit Financial Group LLC's holdings in BlackRock were worth $12,994,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its position in BlackRock by 0.7% during the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager's stock valued at $5,681,472,000 after buying an additional 42,757 shares during the period. Geode Capital Management LLC raised its stake in shares of BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager's stock valued at $2,663,330,000 after acquiring an additional 30,182 shares during the last quarter. FMR LLC boosted its holdings in shares of BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager's stock worth $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC increased its holdings in BlackRock by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager's stock valued at $2,081,561,000 after purchasing an additional 40,865 shares during the period. Finally, Ameriprise Financial Inc. raised its position in BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager's stock valued at $1,310,762,000 after purchasing an additional 46,728 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

BlackRock Stock Performance

BLK traded up $8.51 during midday trading on Friday, hitting $1,004.23. 1,079,196 shares of the company traded hands, compared to its average volume of 610,586. The company's 50-day moving average is $1,027.33 and its 200 day moving average is $946.18. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The firm has a market capitalization of $155.54 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts' consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm's revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.66 EPS. On average, research analysts expect that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.03%. BlackRock's payout ratio is presently 50.35%.

Insider Transactions at BlackRock

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BLK shares. Barclays reduced their target price on BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group increased their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Morgan Stanley upped their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on BlackRock from $914.00 to $971.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,103.33.

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.