BlackRock, Inc. (NYSE:BLK) Stock Holdings Boosted by Concord Asset Management LLC VA

Concord Asset Management LLC VA raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 18.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 547 shares of the asset manager’s stock after purchasing an additional 85 shares during the period. Concord Asset Management LLC VA’s holdings in BlackRock were worth $561,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BLK. Oddo BHF Asset Management Sas bought a new stake in BlackRock during the 3rd quarter valued at $518,000. Erste Asset Management GmbH acquired a new stake in BlackRock in the third quarter worth about $32,904,000. Raymond James Trust N.A. grew its position in BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after buying an additional 614 shares in the last quarter. MML Investors Services LLC increased its stake in BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock valued at $65,010,000 after buying an additional 1,852 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of BlackRock by 20.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after acquiring an additional 565 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $1,075.83 on Friday. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The business’s 50-day moving average price is $1,026.43 and its two-hundred day moving average price is $962.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The company has a market capitalization of $166.63 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.66 earnings per share. Analysts anticipate that BlackRock, Inc. will post 47.45 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a $5.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is currently 48.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays dropped their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Evercore ISI raised their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,190 shares of company stock worth $115,163,141. 0.90% of the stock is owned by corporate insiders.

BlackRock 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.