NEOS Investment Management LLC Has $6.08 Million Position in BlackRock, Inc. (NYSE:BLK)

NEOS Investment Management LLC lifted its position in BlackRock, Inc. (NYSE:BLK) by 26.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,933 shares of the asset manager’s stock after acquiring an additional 1,239 shares during the period. NEOS Investment Management LLC’s holdings in BlackRock were worth $6,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in BlackRock in the third quarter worth $26,000. IAG Wealth Partners LLC acquired a new stake in BlackRock during the 4th quarter worth $26,000. Collier Financial bought a new position in BlackRock during the fourth quarter worth about $32,000. Compass Planning Associates Inc acquired a new position in BlackRock in the fourth quarter valued at about $33,000. Finally, Atwood & Palmer Inc. acquired a new position in BlackRock in the fourth quarter valued at about $36,000. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 corporate insiders.

BlackRock Trading Up 0.0 %

BlackRock stock opened at $968.46 on Friday. The company has a market cap of $150.36 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.90 and a beta of 1.28. The firm has a 50-day moving average of $979.80 and a 200-day moving average of $990.21. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22.

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

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.15%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend was Friday, March 7th. BlackRock’s payout ratio is presently 49.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BLK. JPMorgan Chase & Co. lifted their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Wells Fargo & Company lifted their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Barclays cut their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

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.