Brooklyn FI LLC Invests $2.11 Million in BlackRock, Inc. (NYSE:BLK)

Brooklyn FI LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,079 shares of the asset manager's stock, valued at approximately $2,113,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in BlackRock by 23.1% during the fourth quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager's stock worth $1,615,000 after buying an additional 296 shares during the last quarter. CX Institutional increased its holdings in BlackRock by 4.0% during the fourth quarter. CX Institutional now owns 442 shares of the asset manager's stock worth $453,000 after buying an additional 17 shares during the last quarter. Goelzer Investment Management Inc. acquired a new position in BlackRock during the fourth quarter worth $523,000. Linden Thomas Advisory Services LLC increased its holdings in BlackRock by 19.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 468 shares of the asset manager's stock worth $480,000 after buying an additional 77 shares during the last quarter. Finally, GSB Wealth Management LLC acquired a new position in BlackRock during the fourth quarter worth $207,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 2,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the transaction, the director now owns 66,034 shares of the company's stock, valued at $56,261,628.34. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.98% of the company's stock.

BlackRock Price Performance

BLK stock traded up $1.63 during midday trading on Friday, reaching $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 market capitalization of $151.51 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. The stock has a 50 day moving average price of $922.34 and a 200-day moving average price of $975.46. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

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

Wall Street Analyst Weigh In

BLK has been the subject of a number of research analyst reports. Wall Street Zen raised shares of BlackRock to a "hold" rating in a research report on Saturday, May 24th. JPMorgan Chase & Co. reduced their price objective 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. Morgan Stanley reduced their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. UBS Group reduced their price objective on shares of BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Citigroup reduced their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and a consensus target price of $1,077.08.

BlackRock 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.