MetLife Investment Advisors LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 38,199 shares of the asset manager’s stock, valued at approximately $19,623,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in BlackRock by 4.4% in the 4th quarter. BlackRock Inc. now owns 7,255,797 shares of the asset manager’s stock valued at $3,727,377,000 after acquiring an additional 307,213 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of BlackRock by 2.6% in the 4th quarter. Clearbridge Investments LLC now owns 1,855,275 shares of the asset manager’s stock valued at $953,073,000 after purchasing an additional 47,692 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of BlackRock by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 1,260,724 shares of the asset manager’s stock valued at $646,251,000 after purchasing an additional 46,914 shares during the last quarter. Legal & General Group Plc increased its stake in shares of BlackRock by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 608,209 shares of the asset manager’s stock valued at $271,924,000 after purchasing an additional 13,939 shares during the last quarter. Finally, TD Asset Management Inc. increased its stake in shares of BlackRock by 1.4% in the 3rd quarter. TD Asset Management Inc. now owns 449,827 shares of the asset manager’s stock valued at $201,113,000 after purchasing an additional 6,394 shares during the last quarter. 84.74% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on BLK. 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 research note on Thursday, January 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $640.00 price target on shares of BlackRock in a research note on Wednesday, March 14th. Jefferies Group lifted their price target on BlackRock to $565.00 and gave the company a “hold” rating in a research note on Monday, January 15th. Citigroup lifted their price target on BlackRock to $625.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Wells Fargo reiterated a “market perform” rating and issued a $555.00 price target (up previously from $535.00) on shares of BlackRock in a research note on Tuesday, January 16th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $567.15.
In related news, insider Mark Mccombe sold 2,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $520.64, for a total transaction of $1,041,280.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 425 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total value of $240,533.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,961 shares of company stock worth $11,375,444 in the last 90 days. 1.86% of the stock is currently owned by corporate insiders.
Shares of BlackRock stock opened at $563.66 on Monday. The firm has a market capitalization of $90,590.30, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.52 and a beta of 1.71. BlackRock, Inc. has a 52-week low of $368.00 and a 52-week high of $594.52. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.93.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 12.31% 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 quarter in the previous year, the company posted $5.14 EPS. analysts forecast that BlackRock, Inc. will post 28.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be given a dividend of $2.88 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a yield of 2.04%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is currently 38.02%.
BlackRock Company Profile
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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