Tiemann Investment Advisors LLC Decreases Stake in BlackRock, Inc. (NYSE:BLK)

Tiemann Investment Advisors LLC lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 363 shares of the asset manager’s stock after selling 15 shares during the period. Tiemann Investment Advisors LLC’s holdings in BlackRock were worth $372,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in BlackRock by 0.7% in the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after purchasing an additional 42,757 shares during the period. Geode Capital Management LLC raised its stake in shares of BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after purchasing an additional 30,182 shares during the period. FMR LLC boosted its holdings in shares of BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after buying an additional 226,135 shares during the last quarter. Fisher Asset Management LLC grew its position in BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after buying an additional 40,865 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in BlackRock by 17.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,102,643 shares of the asset manager’s stock worth $1,130,330,000 after buying an additional 160,323 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLK has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price 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. UBS Group increased their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. StockNews.com initiated coverage on BlackRock in a research note on Wednesday, March 5th. They issued a “hold” rating on the stock. Citigroup increased their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Barclays lowered their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 430 shares of the business’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 completion of the sale, the director now owns 3,720 shares of the company’s stock, valued at approximately $3,531,656.40. The trade was a 10.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

BlackRock stock opened at $947.96 on Monday. The firm’s 50 day simple moving average is $994.60 and its 200 day simple moving average is $985.86. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The firm has a market capitalization of $146.82 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued 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 return on equity of 16.32% and a net margin of 31.21%. 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 business 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 expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.20%. 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.