Tidal Investments LLC Increases Stake in BlackRock, Inc. (NYSE:BLK)

Tidal Investments LLC grew its stake in BlackRock, Inc. (NYSE:BLK - Free Report) by 19.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,511 shares of the asset manager's stock after acquiring an additional 5,553 shares during the period. Tidal Investments LLC's holdings in BlackRock were worth $35,378,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BLK. Vanguard Group Inc. lifted its holdings in shares of BlackRock by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 13,376,606 shares of the asset manager's stock worth $13,712,493,000 after buying an additional 68,405 shares during the period. Capital World Investors raised its holdings in shares of BlackRock by 2.3% in the fourth quarter. Capital World Investors now owns 4,097,524 shares of the asset manager's stock valued at $4,200,450,000 after acquiring an additional 93,844 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 acquiring an additional 190,188 shares in the last quarter. FMR LLC increased its holdings in BlackRock by 1.1% during the fourth quarter. FMR LLC now owns 2,390,450 shares of the asset manager's stock valued at $2,450,475,000 after buying an additional 26,485 shares during the period. Finally, Norges Bank bought a new position in shares of BlackRock in the 4th quarter worth $2,356,357,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays lifted their price target on shares of BlackRock from $950.00 to $990.00 and gave the stock an "overweight" rating in a report on Monday, April 14th. UBS Group decreased their price target on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company cut their price objective 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. Citigroup reduced their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BlackRock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,077.08.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $852.01, for a total transaction of $1,704,020.00. Following the transaction, the director now directly owns 66,034 shares of the company's stock, valued at $56,261,628.34. This trade represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is owned by company insiders.

BlackRock Stock Performance

NYSE BLK traded up $4.58 during mid-day trading on Tuesday, reaching $998.24. 536,698 shares of the stock were exchanged, compared to its average volume of 692,129. The company has a market capitalization of $154.65 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.90 and a beta of 1.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The business's 50 day moving average is $919.68 and its 200-day moving average is $978.24. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last posted its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same period in the prior year, the company posted $9.81 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, June 5th. BlackRock's dividend payout ratio (DPR) is presently 50.63%.

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.