First Republic Investment Management Inc. boosted its position in BlackRock, Inc. (NYSE:BLK) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,623 shares of the asset manager’s stock after acquiring an additional 1,534 shares during the period. First Republic Investment Management Inc.’s holdings in BlackRock were worth $31,656,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Somerset Trust Co boosted its holdings in BlackRock by 2.7% in the fourth quarter. Somerset Trust Co now owns 3,449 shares of the asset manager’s stock worth $1,772,000 after acquiring an additional 90 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in BlackRock by 10.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 960 shares of the asset manager’s stock worth $493,000 after acquiring an additional 93 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in BlackRock by 1.7% in the fourth quarter. Naples Global Advisors LLC now owns 5,495 shares of the asset manager’s stock worth $2,823,000 after acquiring an additional 93 shares in the last quarter. Lau Associates LLC boosted its holdings in BlackRock by 10.3% in the fourth quarter. Lau Associates LLC now owns 1,026 shares of the asset manager’s stock worth $527,000 after acquiring an additional 96 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in BlackRock by 2.0% in the fourth quarter. Advisory Services Network LLC now owns 5,259 shares of the asset manager’s stock worth $2,702,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 82.37% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price target on the stock in a report on Thursday, January 11th. Jefferies Group raised their target price on BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday, January 15th. Citigroup raised their target price on BlackRock to $625.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Wells Fargo & Co restated a “market perform” rating and issued a $555.00 target price (up previously from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Finally, Credit Suisse Group restated a “buy” rating and issued a $680.00 target price on shares of BlackRock in a report on Friday, January 12th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $547.92.
In related news, insider Jeff A. Smith sold 425 shares of BlackRock stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total transaction of $240,533.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Deryck C. Maughan purchased 3,861 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were acquired at an average price of $573.44 per share, for a total transaction of $2,214,051.84. Following the completion of the acquisition, the director now directly owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The disclosure for this purchase can be found here. Insiders have sold 19,311 shares of company stock worth $10,255,887 over the last quarter. 1.86% of the stock is currently owned by corporate insiders.
BlackRock, Inc. (NYSE BLK) opened at $543.56 on Thursday. BlackRock, Inc. has a fifty-two week low of $368.00 and a fifty-two week high of $594.52. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $87,383.55, a P/E ratio of 23.96, a PEG ratio of 1.46 and a beta of 1.76.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. BlackRock’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the company posted $5.14 earnings per share. sell-side analysts forecast that BlackRock, Inc. will post 28.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio (DPR) is 33.00%.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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