BlackRock, Inc. (NYSE:BLK) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,210 shares of the asset manager’s stock after selling 16 shares during the quarter. Lake Street Private Wealth LLC’s holdings in BlackRock were worth $1,240,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BLK. Retirement Wealth Solutions LLC acquired a new stake in BlackRock during the fourth quarter worth about $45,000. O Keefe Stevens Advisory Inc. grew its holdings in shares of BlackRock by 34.6% during the fourth quarter. O Keefe Stevens Advisory Inc. now owns 848 shares of the asset manager’s stock valued at $869,000 after purchasing an additional 218 shares during the last quarter. Somerset Trust Co raised its position in shares of BlackRock by 3.8% during the 4th quarter. Somerset Trust Co now owns 4,384 shares of the asset manager’s stock worth $4,494,000 after purchasing an additional 160 shares during the period. Merit Financial Group LLC lifted its holdings in shares of BlackRock by 23.2% in the 4th quarter. Merit Financial Group LLC now owns 12,676 shares of the asset manager’s stock worth $12,994,000 after purchasing an additional 2,386 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC grew its stake in BlackRock by 115.4% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 838 shares of the asset manager’s stock worth $859,000 after buying an additional 449 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 0.9 %

Shares of BLK stock opened at $1,004.23 on Friday. The stock has a 50-day simple moving average of $1,028.03 and a 200 day simple moving average of $944.64. The stock has a market capitalization of $155.54 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.53 and a beta of 1.28. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm posted $9.66 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, sell-side analysts expect that BlackRock, Inc. will post 43.02 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

Insiders Place Their Bets

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BLK shares. TD Cowen boosted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com started coverage on shares of BlackRock in a research report on Thursday. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley increased their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, The Goldman Sachs Group lifted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,103.33.

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.