Fisher Asset Management LLC Trims Stake in BlackRock, Inc. (NYSE:BLK)

Fisher Asset Management LLC lessened its position in BlackRock, Inc. (NYSE:BLK) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,060,640 shares of the asset manager’s stock after selling 131,607 shares during the quarter. Fisher Asset Management LLC’s holdings in BlackRock were worth $2,112,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in BlackRock in the third quarter worth $26,000. Collier Financial purchased a new stake in shares of BlackRock in the 4th quarter worth about $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock in the 4th quarter worth about $33,000. Atwood & Palmer Inc. purchased a new position in BlackRock during the 4th quarter valued at about $36,000. Finally, Reston Wealth Management LLC bought a new stake in BlackRock during the third quarter worth about $37,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

BLK opened at $979.44 on Friday. The company’s 50-day simple moving average is $1,003.74 and its two-hundred day simple moving average is $980.92. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The stock has a market capitalization of $151.69 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.90 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company posted $9.66 earnings per share. As a group, analysts predict that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.13%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is presently 49.62%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BLK shares. Citigroup raised their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. raised their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. StockNews.com initiated coverage on BlackRock in a report on Tuesday. They set a “hold” rating for the company. Finally, Wells Fargo & Company upped their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Activity at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,190 shares of company stock worth $115,163,141. 0.90% of the stock is owned by insiders.

About BlackRock

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.