81,098 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC bought a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 81,098 shares of the asset manager’s stock, valued at approximately $83,134,000. Chevy Chase Trust Holdings LLC owned about 0.05% of BlackRock at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new stake in BlackRock in the third quarter worth about $26,000. Collier Financial purchased a new stake in BlackRock in the fourth quarter worth about $32,000. Atwood & Palmer Inc. purchased a new stake in BlackRock in the fourth quarter worth about $36,000. West Financial Advisors LLC purchased a new stake in BlackRock in the fourth quarter worth about $39,000. Finally, Reston Wealth Management LLC purchased a new stake in BlackRock in the third quarter worth about $37,000. 80.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the sale, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,190 shares of company stock valued at $115,163,141. Company insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $980.48 on Friday. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The firm has a market cap of $151.86 billion, a P/E ratio of 23.34, a PEG ratio of 1.93 and a beta of 1.28. The company has a 50 day moving average of $1,021.99 and a 200 day moving average of $971.97. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share 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 during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the business earned $9.66 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, research analysts expect that BlackRock, Inc. will post 47.44 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is 49.62%.

Analyst Ratings Changes

Several brokerages have commented on BLK. StockNews.com began coverage on shares of BlackRock in a report on Sunday, February 9th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their target price on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, UBS Group lifted their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

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.