Financial Management Professionals Inc. Has $449,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Financial Management Professionals Inc. increased its position in BlackRock, Inc. (NYSE:BLK) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 438 shares of the asset manager’s stock after purchasing an additional 45 shares during the period. Financial Management Professionals Inc.’s holdings in BlackRock were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp boosted its position in shares of BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after buying an additional 42,757 shares during the last quarter. Geode Capital Management LLC lifted its stake in BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after acquiring an additional 30,182 shares in the last quarter. FMR LLC boosted its holdings in BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after acquiring an additional 226,135 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after purchasing an additional 40,865 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,004.23 on Friday. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The stock has a fifty day moving average of $1,027.33 and a 200-day moving average of $946.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The stock has a market cap of $155.53 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $9.66 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post 43.02 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com began coverage on shares of BlackRock in a research note on Thursday. They issued a “hold” rating for the company. JPMorgan Chase & Co. lifted their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods cut their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,103.33.

Insider Buying and Selling

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company 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.