TigerOak Management L.L.C. Buys New Shares in BlackRock, Inc. (NYSE:BLK)

TigerOak Management L.L.C. bought a new stake in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, Holdings Channel reports. The firm bought 1,771 shares of the asset manager’s stock, valued at approximately $1,815,000. BlackRock makes up approximately 0.7% of TigerOak Management L.L.C.’s portfolio, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in BlackRock during the 3rd quarter valued at $26,000. Collier Financial acquired a new stake in BlackRock during the 4th quarter valued at $32,000. Atwood & Palmer Inc. acquired a new stake in BlackRock during the 4th quarter valued at $36,000. West Financial Advisors LLC acquired a new stake in BlackRock during the 4th quarter valued at $39,000. Finally, Reston Wealth Management LLC acquired a new stake in BlackRock during the 3rd quarter valued at $37,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BLK. UBS Group raised their price target on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Morgan Stanley raised their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. StockNews.com assumed coverage on BlackRock in a report on Sunday, February 9th. They set a “hold” rating for the company. Evercore ISI lifted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Stock Down 0.7 %

Shares of NYSE:BLK opened at $973.22 on Friday. The company has a market capitalization of $150.73 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. 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 has a fifty day moving average price of $1,019.28 and a two-hundred day moving average price of $972.80. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,084.22.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.66 EPS. Analysts forecast that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a dividend of $5.21 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.14%. BlackRock’s dividend payout ratio is presently 48.57%.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J. Richard Kushel sold 10,000 shares of the company’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 completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. This trade represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,190 shares of company stock valued at $115,163,141. Corporate insiders own 0.90% of the company’s stock.

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.