Frazier Financial Advisors LLC Acquires Shares of 112 BlackRock, Inc. (NYSE:BLK)

Frazier Financial Advisors LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 112 shares of the asset manager’s stock, valued at approximately $91,000.

Several other hedge funds have also modified their holdings of the business. Union Savings Bank increased its stake in BlackRock by 10.0% in the 4th quarter. Union Savings Bank now owns 515 shares of the asset manager’s stock valued at $418,000 after purchasing an additional 47 shares in the last quarter. Central Valley Advisors LLC purchased a new position in shares of BlackRock in the fourth quarter valued at $355,000. King Luther Capital Management Corp raised its stake in shares of BlackRock by 339.2% during the 4th quarter. King Luther Capital Management Corp now owns 2,007 shares of the asset manager’s stock worth $1,629,000 after buying an additional 1,550 shares during the last quarter. InterOcean Capital Group LLC grew its stake in BlackRock by 3.2% in the 4th quarter. InterOcean Capital Group LLC now owns 54,014 shares of the asset manager’s stock valued at $43,848,000 after acquiring an additional 1,685 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in BlackRock by 12.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 464 shares of the asset manager’s stock valued at $376,000 after acquiring an additional 50 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, UBS Group lifted their price objective on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $845.42.

BlackRock Trading Down 0.9 %

BLK traded down $6.89 on Thursday, reaching $792.72. 180,664 shares of the company’s stock were exchanged, compared to its average volume of 604,219. The company has a market cap of $117.80 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.66 and a beta of 1.37. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock, Inc. has a twelve month low of $596.18 and a twelve month high of $845.00. The company’s 50 day moving average is $790.87 and its 200-day moving average is $781.51.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the firm posted $7.93 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts predict that BlackRock, Inc. will post 41.25 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, June 6th. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Transactions at BlackRock

In other news, Director Rachel Lord sold 36,059 shares of BlackRock stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the sale, the director now directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other BlackRock news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the transaction, the director now directly owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,015 shares of company stock valued at $86,751,357. Corporate insiders own 0.90% of the company’s stock.

BlackRock 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.