Mirae Asset Global Investments Co. Ltd. Has $94.94 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,994 shares of the asset manager’s stock after buying an additional 7,742 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BlackRock were worth $94,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FSA Wealth Management LLC bought a new stake in shares of BlackRock during the 3rd quarter valued at $26,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock during the fourth quarter worth $36,000. Reston Wealth Management LLC bought a new stake in BlackRock in the third quarter valued at about $37,000. MFA Wealth Advisors LLC boosted its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new position in shares of BlackRock during the 4th quarter worth about $39,000. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In other news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the transaction, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock worth $115,163,141 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. UBS Group raised their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, StockNews.com assumed coverage on BlackRock in a research report on Saturday. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

Shares of BLK opened at $1,017.12 on Wednesday. The company has a 50 day moving average of $1,026.10 and a 200-day moving average of $965.17. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $157.53 billion, a P/E ratio of 24.22, a P/E/G ratio of 2.06 and a beta of 1.28. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business earned $9.66 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock, Inc. will post 47.45 EPS 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 paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.05%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

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.