Hartford Investment Management Co. Decreases Stock Position in BlackRock, Inc. (NYSE:BLK)

Hartford Investment Management Co. cut its position in BlackRock, Inc. (NYSE:BLKFree Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,421 shares of the asset manager’s stock after selling 287 shares during the quarter. Hartford Investment Management Co.’s holdings in BlackRock were worth $7,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in BlackRock in the 4th quarter valued at about $1,037,009,000. Moneta Group Investment Advisors LLC grew its position in BlackRock by 104,159.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager’s stock worth $494,269,000 after purchasing an additional 696,830 shares during the last quarter. FMR LLC raised its holdings in BlackRock by 22.0% in the 3rd quarter. FMR LLC now owns 2,105,314 shares of the asset manager’s stock valued at $1,361,064,000 after acquiring an additional 379,631 shares in the last quarter. Invesco Ltd. raised its holdings in BlackRock by 84.4% in the 3rd quarter. Invesco Ltd. now owns 744,770 shares of the asset manager’s stock valued at $481,486,000 after acquiring an additional 340,792 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in BlackRock by 15.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock valued at $1,777,933,000 after acquiring an additional 310,256 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BlackRock news, insider Marc D. Comerchero sold 450 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total transaction of $353,299.50. Following the completion of the transaction, the insider now owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Marc D. Comerchero sold 450 shares of BlackRock stock in a transaction on Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the transaction, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the sale, the general counsel now owns 11,914 shares in the company, valued at $3,366,142.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,511 shares of company stock worth $71,864,028. Company insiders own 1.06% of the company’s stock.

BlackRock Trading Up 0.1 %

Shares of BLK stock traded up $0.43 during mid-day trading on Wednesday, reaching $817.02. The stock had a trading volume of 125,701 shares, compared to its average volume of 588,106. The stock’s 50-day moving average price is $807.63 and its two-hundred day moving average price is $746.60. The firm has a market capitalization of $121.69 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.80 and a beta of 1.37. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last issued its earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $0.82. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the business earned $8.93 earnings per share. BlackRock’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts expect that BlackRock, Inc. will post 40.23 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th were issued a $5.10 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.00. This represents a $20.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, March 6th. BlackRock’s dividend payout ratio is 55.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BLK shares. JPMorgan Chase & Co. increased their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a report on Tuesday. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. BNP Paribas upgraded BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a research report on Tuesday, December 12th. Finally, UBS Group raised their price target on BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $789.67.

Check Out Our Latest Stock Analysis on BLK

About BlackRock

(Free Report)

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.

See Also

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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