Napatree Capital LLC Takes $239,000 Position in BlackRock, Inc. (NYSE:BLK)

Napatree Capital LLC acquired a new stake in BlackRock, Inc. (NYSE:BLKFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 295 shares of the asset manager’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MONECO Advisors LLC bought a new stake in shares of BlackRock during the 4th quarter worth about $203,000. Sivia Capital Partners LLC acquired a new position in BlackRock in the 4th quarter valued at about $304,000. Rovin Capital UT ADV grew its stake in BlackRock by 10.0% in the 4th quarter. Rovin Capital UT ADV now owns 474 shares of the asset manager’s stock valued at $385,000 after buying an additional 43 shares during the last quarter. Spartan Planning & Wealth Management acquired a new position in BlackRock in the 4th quarter valued at about $262,000. Finally, SageView Advisory Group LLC acquired a new position in BlackRock in the 4th quarter valued at about $1,560,000. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were 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 owns 6,480 shares of the company’s stock, valued at $5,151,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

BlackRock Stock Performance

Shares of BlackRock stock opened at $778.60 on Tuesday. The company has a 50 day moving average of $775.55 and a 200-day moving average of $790.91. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market cap of $115.70 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.59 and a beta of 1.34.

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

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be paid a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, June 7th. BlackRock’s payout ratio is 51.84%.

Wall Street Analyst Weigh In

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

Read Our Latest Report on BLK

BlackRock Company Profile

(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.

Read More

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.