True North Advisors LLC Raises Holdings in BlackRock, Inc. (NYSE:BLK)

True North Advisors LLC increased its position in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 378 shares of the asset manager’s stock after buying an additional 42 shares during the period. True North Advisors LLC’s holdings in BlackRock were worth $307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. West Tower Group LLC purchased a new position in shares of BlackRock in the 2nd quarter valued at $27,000. Tyler Stone Wealth Management purchased a new position in BlackRock in the second quarter valued at about $33,000. Exchange Traded Concepts LLC raised its holdings in BlackRock by 671.4% in the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock worth $35,000 after purchasing an additional 47 shares in the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of BlackRock in the 4th quarter valued at about $40,000. Finally, Selway Asset Management bought a new stake in shares of BlackRock in the 3rd quarter valued at about $41,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of NYSE:BLK opened at $840.00 on Monday. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The company has a market cap of $125.11 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The company’s 50 day moving average is $806.48 and its 200 day moving average is $744.59.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, beating the consensus estimate of $8.84 by $0.82. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm earned $8.93 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts forecast that BlackRock, Inc. will post 39.81 EPS for the current year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were paid a dividend of $5.10 per share. The ex-dividend date was Wednesday, March 6th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from BlackRock’s previous quarterly dividend of $5.00. BlackRock’s dividend payout ratio (DPR) is presently 55.88%.

Insider Activity

In related news, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of BlackRock stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the transaction, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock valued at $71,864,028 in the last quarter. 1.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and increased their target price for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. JPMorgan Chase & Co. cut BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 price objective for the company. in a research report on Friday, December 15th. UBS Group upped their target price on BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, BNP Paribas raised BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target for the company in a report on Tuesday, December 12th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $785.73.

View Our Latest Analysis on BlackRock

About BlackRock

(Free Report)

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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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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