Personal CFO Solutions LLC Invests $934,000 in BlackRock, Inc. (NYSE:BLK)

Personal CFO Solutions LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 911 shares of the asset manager’s stock, valued at approximately $934,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in BlackRock by 0.7% in the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after purchasing an additional 42,757 shares during the period. Geode Capital Management LLC grew its position in BlackRock by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after acquiring an additional 30,182 shares in the last quarter. FMR LLC boosted its position in shares of BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after buying an additional 226,135 shares during the period. Fisher Asset Management LLC boosted its position in shares of BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after buying an additional 40,865 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of BlackRock by 17.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,102,643 shares of the asset manager’s stock valued at $1,130,330,000 after buying an additional 160,323 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com assumed coverage on BlackRock in a research report on Wednesday. They set a “hold” rating for the company. Citigroup boosted their price target on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Morgan Stanley boosted their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Barclays lowered their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

Shares of BLK stock opened at $947.96 on Friday. The business’s fifty day simple moving average is $994.60 and its 200-day simple moving average is $985.00. The company has a market cap of $146.82 billion, a PE ratio of 22.57, a PEG ratio of 1.90 and a beta of 1.28. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $745.55 and a 12-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, topping analysts’ consensus estimates of $11.52 by $0.41. The business 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 business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $9.66 earnings per share. Analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.20%. BlackRock’s dividend payout ratio is presently 49.62%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now directly owns 68,433 shares of the company’s stock, 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 is available through this hyperlink. Over the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. Corporate insiders own 0.90% of the company’s stock.

BlackRock Company 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.