Twinbeech Capital LP Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Twinbeech Capital LP purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,635 shares of the asset manager’s stock, valued at approximately $27,304,000.

A number of other institutional investors have also recently bought and sold shares of the business. Texas Bank & Trust Co acquired a new position in BlackRock during the fourth quarter worth approximately $1,873,000. Tidal Investments LLC increased its position in BlackRock by 19.2% during the fourth quarter. Tidal Investments LLC now owns 34,511 shares of the asset manager’s stock worth $35,378,000 after buying an additional 5,553 shares during the last quarter. Tolleson Wealth Management Inc. acquired a new position in BlackRock during the fourth quarter worth approximately $261,000. TrinityPoint Wealth LLC increased its position in BlackRock by 9.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 1,641 shares of the asset manager’s stock worth $1,682,000 after buying an additional 147 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. increased its position in BlackRock by 43.2% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 5,297 shares of the asset manager’s stock worth $5,192,000 after buying an additional 1,598 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several research reports. StockNews.com initiated coverage on BlackRock in a research report on Friday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Citigroup decreased their target price on BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company decreased their target price on BlackRock from $1,065.00 to $1,035.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, UBS Group decreased their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,077.08.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the sale, the director now owns 3,720 shares of the company’s stock, valued at approximately $3,531,656.40. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 0.6%

Shares of NYSE:BLK opened at $989.39 on Monday. The company has a market capitalization of $153.61 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 1 year low of $752.30 and a 1 year high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The business’s 50 day simple moving average is $916.06 and its 200 day simple moving average is $978.04.

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

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, June 5th. BlackRock’s dividend payout ratio 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.