Addison Capital Co Purchases 46 Shares of BlackRock, Inc. (NYSE:BLK)

Addison Capital Co lifted its holdings in BlackRock, Inc. (NYSE:BLK) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,405 shares of the asset manager’s stock after acquiring an additional 46 shares during the quarter. BlackRock makes up approximately 1.4% of Addison Capital Co’s investment portfolio, making the stock its 22nd biggest position. Addison Capital Co’s holdings in BlackRock were worth $3,490,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fidelity D & D Bancorp Inc. increased its stake in shares of BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 10 shares in the last quarter. Princeton Global Asset Management LLC grew its stake in shares of BlackRock by 8.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after buying an additional 10 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its position in BlackRock by 0.8% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock valued at $1,311,000 after buying an additional 10 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in BlackRock by 2.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after acquiring an additional 10 shares in the last quarter. Finally, Studio Investment Management LLC grew its stake in shares of BlackRock by 0.4% in the third quarter. Studio Investment Management LLC now owns 3,076 shares of the asset manager’s stock worth $2,921,000 after acquiring an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 430 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now owns 3,720 shares of the company’s stock, valued at $3,531,656.40. This trade represents a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Morgan Stanley upped their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, UBS Group lifted their target price on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Stock Up 3.1 %

BLK stock opened at $928.74 on Monday. The company has a market cap of $144.19 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 1.90 and a beta of 1.28. 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 $983.61 and its two-hundred day moving average is $986.99. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the firm posted $9.66 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. As a group, analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.24%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio is 49.62%.

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.