BridgePort Financial Solutions LLC Buys New Stake in BlackRock, Inc. (NYSE:BLK)

BridgePort Financial Solutions LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 684 shares of the asset manager's stock, valued at approximately $647,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in BlackRock by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after purchasing an additional 68,405 shares during the period. Capital World Investors increased its stake in shares of BlackRock by 2.3% in the 4th quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after purchasing an additional 93,844 shares in the last quarter. Geode Capital Management LLC increased its stake in BlackRock by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager's stock worth $3,072,787,000 after buying an additional 190,188 shares in the last quarter. FMR LLC increased its stake in BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock worth $2,450,475,000 after buying an additional 26,485 shares in the last quarter. Finally, Norges Bank acquired a new position in BlackRock in the fourth quarter valued at approximately $2,356,357,000. 80.69% of the stock is owned by institutional investors.

BlackRock Trading Up 0.2%

Shares of NYSE:BLK traded up $1.63 on Friday, hitting $977.95. The company had a trading volume of 1,060,907 shares, compared to its average volume of 694,622. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $151.51 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The firm's 50-day simple moving average is $922.34 and its two-hundred day simple moving average is $975.46.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, beating the consensus estimate of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.81 earnings per share. Equities analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 2.13%. The ex-dividend date is Thursday, June 5th. BlackRock's payout ratio is 50.63%.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company's stock, valued at $60,256,025. The trade was a 13.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent research reports. UBS Group cut their price objective 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. JPMorgan Chase & Co. reduced their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research note on Saturday, May 24th. Wells Fargo & Company reduced their target price on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, TD Cowen cut their price objective on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.