Koch Industries Inc. bought a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 636 shares of the asset manager’s stock, valued at approximately $327,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of BLK. Nationwide Fund Advisors raised its stake in shares of BlackRock by 1.4% in the third quarter. Nationwide Fund Advisors now owns 34,552 shares of the asset manager’s stock valued at $15,448,000 after purchasing an additional 487 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of BlackRock by 12.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 26,130 shares of the asset manager’s stock valued at $11,687,000 after purchasing an additional 2,991 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of BlackRock by 20.0% in the third quarter. Victory Capital Management Inc. now owns 8,029 shares of the asset manager’s stock valued at $3,590,000 after purchasing an additional 1,337 shares in the last quarter. Sei Investments Co. raised its stake in shares of BlackRock by 11.2% in the third quarter. Sei Investments Co. now owns 27,991 shares of the asset manager’s stock valued at $12,515,000 after purchasing an additional 2,829 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of BlackRock by 2.3% in the third quarter. Retirement Systems of Alabama now owns 60,137 shares of the asset manager’s stock valued at $26,887,000 after purchasing an additional 1,352 shares in the last quarter. Institutional investors and hedge funds own 84.65% of the company’s stock.
Shares of BlackRock, Inc. (NYSE BLK) opened at $571.79 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.94 and a current ratio of 2.94. The company has a market capitalization of $92,763.22, a price-to-earnings ratio of 25.48, a PEG ratio of 1.55 and a beta of 1.71. BlackRock, Inc. has a 1-year low of $368.00 and a 1-year high of $594.52.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be issued a dividend of $2.88 per share. This represents a $11.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is presently 38.02%.
Several research analysts have issued reports on BLK shares. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a research note on Thursday, January 11th. Citigroup increased their price objective on BlackRock to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Jefferies Group increased their price objective on BlackRock to $565.00 and gave the stock a “hold” rating in a research note on Monday, January 15th. Credit Suisse Group reiterated a “buy” rating and set a $680.00 price objective on shares of BlackRock in a research note on Friday, January 12th. Finally, ValuEngine lowered BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Six 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. BlackRock presently has a consensus rating of “Buy” and an average price target of $560.85.
In other news, insider Jeff A. Smith sold 425 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total transaction of $240,533.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Deryck C. Maughan bought 3,861 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were acquired at an average price of $573.44 per share, for a total transaction of $2,214,051.84. Following the acquisition, the director now directly owns 12,265 shares of the company’s stock, valued at approximately $7,033,241.60. The disclosure for this purchase can be found here. Insiders have sold 20,961 shares of company stock worth $11,375,444 in the last 90 days. Company insiders own 1.86% of the company’s stock.
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BlackRock Company Profile
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.
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