KLP Kapitalforvaltning AS Buys 400 Shares of BlackRock (NYSE:BLK)

KLP Kapitalforvaltning AS raised its stake in BlackRock (NYSE:BLK - Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,455 shares of the asset manager's stock after purchasing an additional 400 shares during the period. KLP Kapitalforvaltning AS's holdings in BlackRock were worth $47,755,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. increased its holdings in BlackRock by 2.1% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 534 shares of the asset manager's stock worth $542,000 after acquiring an additional 11 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of BlackRock by 4.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 257 shares of the asset manager's stock valued at $263,000 after acquiring an additional 11 shares during the last quarter. Detalus Advisors LLC boosted its position in shares of BlackRock by 2.8% during the 1st quarter. Detalus Advisors LLC now owns 409 shares of the asset manager's stock valued at $387,000 after acquiring an additional 11 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in shares of BlackRock by 20.4% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 65 shares of the asset manager's stock valued at $62,000 after acquiring an additional 11 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its position in BlackRock by 3.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 399 shares of the asset manager's stock worth $409,000 after buying an additional 12 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BLK. Argus reaffirmed a "buy" rating on shares of BlackRock in a research note on Tuesday, July 8th. Morgan Stanley dropped their target price on BlackRock from $1,247.00 to $1,224.00 and set an "overweight" rating on the stock in a report on Wednesday, July 16th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,115.00 price target on shares of BlackRock in a report on Tuesday, July 8th. Barclays increased their target price on BlackRock from $990.00 to $1,220.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Telsey Advisory Group reissued an "outperform" rating on shares of BlackRock in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,151.21.

BlackRock Trading Down 0.1%

Shares of BLK stock traded down $1.68 on Thursday, reaching $1,118.69. 539,434 shares of the company's stock were exchanged, compared to its average volume of 798,309. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,125.76. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $173.32 billion, a PE ratio of 27.05, a P/E/G ratio of 2.22 and a beta of 1.41. The company's fifty day simple moving average is $1,022.22 and its 200 day simple moving average is $975.06.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $12.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.41 by $1.64. BlackRock had a return on equity of 15.83% and a net margin of 29.68%. The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company earned $10.36 EPS. BlackRock's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, analysts forecast that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be issued a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a yield of 1.86%. BlackRock's payout ratio is 50.39%.

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.