Polar Capital Holdings Plc Makes New $15.31 Million Investment in BlackRock, Inc. (NYSE:BLK)

Polar Capital Holdings Plc acquired a new position in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,932 shares of the asset manager's stock, valued at approximately $15,307,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. IAG Wealth Partners LLC acquired a new position in BlackRock during the fourth quarter worth $26,000. Collier Financial acquired a new stake in shares of BlackRock in the fourth quarter valued at about $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock in the fourth quarter valued at about $33,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock in the fourth quarter valued at about $36,000. Finally, West Financial Advisors LLC acquired a new stake in shares of BlackRock in the fourth quarter valued at about $39,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

BLK traded down $7.02 during midday trading on Wednesday, reaching $990.69. 197,234 shares of the company's stock were exchanged, compared to its average volume of 690,206. The firm has a market capitalization of $153.48 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a one year low of $752.30 and a one year high of $1,084.22. The business has a 50-day simple moving average of $919.68 and a two-hundred day simple moving average of $978.24.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.28 billion during the quarter, compared to analysts' expectations of $5.47 billion. During the same quarter last year, the company earned $9.81 earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is currently 50.63%.

Insider Activity

In other news, Director J. Richard Kushel sold 430 shares of BlackRock stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the transaction, the director now owns 3,720 shares in the company, valued at approximately $3,531,656.40. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 12,430 shares of company stock worth $11,237,249. Insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. StockNews.com started coverage on BlackRock in a research report on Friday, May 16th. They issued a "hold" rating on the stock. Barclays lifted their target price on BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Wells Fargo & Company decreased their target price on BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, UBS Group decreased their target price on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,077.08.

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.