Hoey Investments Inc. Has $217,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Hoey Investments Inc. lessened its holdings in BlackRock, Inc. (NYSE:BLK) by 9.4% during the fourth quarter, HoldingsChannel reports. The firm owned 212 shares of the asset manager’s stock after selling 22 shares during the quarter. Hoey Investments Inc.’s holdings in BlackRock were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Oddo BHF Asset Management Sas bought a new position in BlackRock in the third quarter valued at about $518,000. Amalgamated Bank boosted its stake in shares of BlackRock by 1.7% in the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock valued at $29,432,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of BlackRock by 4.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock valued at $12,793,000 after purchasing an additional 578 shares during the last quarter. Erste Asset Management GmbH bought a new position in BlackRock in the 3rd quarter valued at approximately $32,904,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in BlackRock by 6.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,396 shares of the asset manager’s stock valued at $67,038,000 after buying an additional 4,210 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the transaction, the director now owns 68,433 shares in the company, valued at $69,117,330. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BLK has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of BlackRock in a report on Saturday. They set a “hold” rating for the company. Citigroup upped their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. JPMorgan Chase & Co. lifted their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Trading Down 2.1 %

NYSE:BLK opened at $947.48 on Monday. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm’s fifty day moving average is $978.66 and its 200-day moving average is $992.24. The firm has a market cap of $147.10 billion, a P/E ratio of 22.56, a P/E/G ratio of 1.90 and a beta of 1.28.

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

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were issued a $5.21 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, March 7th. BlackRock’s payout ratio is presently 49.62%.

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.