Empire Life Investments Inc. grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,605 shares of the asset manager’s stock after purchasing an additional 1,196 shares during the quarter. Empire Life Investments Inc.’s holdings in BlackRock were worth $16,750,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of BlackRock by 4.4% in the fourth 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. Fred Alger Management Inc. raised its holdings in BlackRock by 2,347.6% in the fourth quarter. Fred Alger Management Inc. now owns 185,965 shares of the asset manager’s stock worth $95,532,000 after purchasing an additional 178,367 shares in the last quarter. Stifel Financial Corp raised its holdings in BlackRock by 2,450.2% in the third quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock worth $81,105,000 after purchasing an additional 174,554 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in BlackRock by 31.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 442,328 shares of the asset manager’s stock worth $227,228,000 after purchasing an additional 106,315 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in BlackRock in the fourth quarter worth about $53,310,000. 84.65% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on BLK. ValuEngine downgraded shares of BlackRock from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Deutsche Bank reduced their target price on shares of BlackRock to $623.00 and set a “buy” rating for the company in a report on Tuesday, March 6th. Citigroup downgraded shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 target price for the company. in a report on Thursday, January 25th. Argus reiterated a “buy” rating and issued a $620.00 target price (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $555.00 target price (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $560.85.
Shares of BlackRock, Inc. (NYSE BLK) opened at $577.18 on Monday. BlackRock, Inc. has a 52 week low of $368.00 and a 52 week high of $594.52. The firm has a market capitalization of $92,763.22, a PE ratio of 19.05, a PEG ratio of 1.55 and a beta of 1.71. 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 earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the Zacks’ consensus estimate of $5.94 by $0.30. The firm 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 revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.14 earnings per share. research analysts forecast that BlackRock, Inc. will post 28.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be given a $2.88 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $11.52 dividend on an annualized basis and a yield of 2.00%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is currently 38.02%.
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.
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.