Treasurer of the State of North Carolina Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Treasurer of the State of North Carolina lifted its stake in BlackRock, Inc. (NYSE:BLKFree Report) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,508 shares of the asset manager’s stock after acquiring an additional 70 shares during the period. Treasurer of the State of North Carolina’s holdings in BlackRock were worth $54,803,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BLK. Fiduciary Trust Co boosted its stake in BlackRock by 1.7% in the fourth quarter. Fiduciary Trust Co now owns 4,778 shares of the asset manager’s stock valued at $3,879,000 after acquiring an additional 81 shares in the last quarter. Weiss Asset Management LP purchased a new position in BlackRock during the 4th quarter worth $393,000. Holistic Financial Partners increased its position in BlackRock by 6.7% during the 4th quarter. Holistic Financial Partners now owns 607 shares of the asset manager’s stock valued at $493,000 after buying an additional 38 shares in the last quarter. J. W. Coons Advisors LLC boosted its holdings in BlackRock by 0.6% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,564 shares of the asset manager’s stock worth $2,893,000 after acquiring an additional 22 shares in the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new position in shares of BlackRock during the fourth quarter valued at about $1,423,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

BlackRock Trading Up 0.7 %

Shares of BLK traded up $5.28 during midday trading on Thursday, reaching $761.86. The company had a trading volume of 649,905 shares, compared to its average volume of 606,531. The company has a quick ratio of 5.32, a current ratio of 5.32 and a debt-to-equity ratio of 0.35. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The firm has a 50 day simple moving average of $787.75 and a 200-day simple moving average of $785.72. The stock has a market cap of $113.21 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.59 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $7.93 EPS. Research analysts forecast that BlackRock, Inc. will post 41.25 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a $5.10 dividend. The ex-dividend date is Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.68%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BLK shares. UBS Group lifted their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $845.42.

Read Our Latest Research Report on BLK

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.

See Also

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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