Tenere Capital LLC Acquires 7,600 Shares of BlackRock, Inc. (NYSE:BLK)

Tenere Capital LLC grew its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,786 shares of the asset manager's stock after buying an additional 7,600 shares during the quarter. BlackRock makes up 6.2% of Tenere Capital LLC's portfolio, making the stock its 4th largest position. Tenere Capital LLC's holdings in BlackRock were worth $23,358,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in BlackRock by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock valued at $13,712,493,000 after buying an additional 68,405 shares during the period. Capital World Investors lifted its stake in shares of BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after purchasing an additional 93,844 shares during the period. Geode Capital Management LLC boosted its position in shares of BlackRock by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock worth $3,072,787,000 after purchasing an additional 190,188 shares during the last quarter. FMR LLC increased its holdings in BlackRock by 1.1% in the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after purchasing an additional 26,485 shares during the last quarter. Finally, Norges Bank acquired a new position in BlackRock in the fourth quarter valued at about $2,356,357,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BLK. Barclays boosted their price objective on shares of BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a report on Monday, April 14th. Wells Fargo & Company dropped their price objective on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Morgan Stanley lowered their price target on BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a report on Monday, April 7th. TD Cowen cut their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group reduced their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

BlackRock Price Performance

BlackRock stock opened at $887.84 on Wednesday. The stock's 50 day moving average is $926.10 and its 200-day moving average is $984.56. The company has a market capitalization of $137.84 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a 12 month low of $748.02 and a 12 month high of $1,084.22. 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 released its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period last year, the firm earned $9.81 earnings per share. BlackRock's revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were issued a dividend of $5.21 per share. 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 2.35%. The ex-dividend date of this dividend was Friday, March 7th. BlackRock's dividend payout ratio is 50.63%.

Insider Activity at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of BlackRock stock in a transaction on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now owns 3,720 shares in the company, valued at approximately $3,531,656.40. This trade represents a 10.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.98% of the stock is owned by insiders.

BlackRock Company 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.

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