State of Alaska Department of Revenue Buys 457 Shares of BlackRock (NYSE:BLK)

State of Alaska Department of Revenue increased its stake in BlackRock (NYSE:BLK) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,057 shares of the asset manager’s stock after acquiring an additional 457 shares during the period. State of Alaska Department of Revenue’s holdings in BlackRock were worth $16,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake 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 valued at $13,712,493,000 after acquiring an additional 68,405 shares during the last quarter. Capital World Investors lifted its stake in shares of BlackRock by 2.3% in the 4th 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of BlackRock by 104,598.9% in the 1st quarter. GAMMA Investing LLC now owns 3,500,083 shares of the asset manager’s stock valued at $3,312,759,000 after acquiring an additional 3,496,740 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of BlackRock by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 3,006,765 shares of the asset manager’s stock valued at $3,072,787,000 after acquiring an additional 190,188 shares during the last quarter. Finally, FMR LLC increased its holdings in BlackRock by 1.1% during the 4th quarter. FMR LLC now owns 2,390,450 shares of the asset manager’s stock valued at $2,450,475,000 after purchasing an additional 26,485 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $912.50, for a total transaction of $9,125,000.00. Following the transaction, the director now directly owns 66,034 shares of the company’s stock, valued at $60,256,025. This represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the topic of a number of research analyst reports. TD Cowen reduced their price target on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley reduced their price target on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. Argus boosted their price target on BlackRock from $1,028.00 to $1,090.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group reduced their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Barclays upped their target price on BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,096.31.

BlackRock Stock Performance

BlackRock stock opened at $968.90 on Wednesday. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $150.11 billion, a P/E ratio of 23.54, a PEG ratio of 2.99 and a beta of 1.41. The stock’s 50 day moving average is $942.61 and its 200 day moving average is $971.07. BlackRock has a twelve month low of $773.74 and a twelve month high of $1,084.22.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping the consensus estimate of $10.84 by $0.46. The company 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 15.57% and a net margin of 30.09%. 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 EPS. On average, equities research analysts predict that BlackRock will post 47.41 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. BlackRock’s payout ratio is 50.63%.

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.