Marion Wealth Management Buys 95 Shares of BlackRock, Inc. (NYSE:BLK)

Marion Wealth Management lifted its position in BlackRock, Inc. (NYSE:BLK) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,546 shares of the asset manager’s stock after buying an additional 95 shares during the period. Marion Wealth Management’s holdings in BlackRock were worth $2,609,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Marino Stram & Associates LLC grew its position in shares of BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares in the last quarter. Fidelity D & D Bancorp Inc. lifted its stake in BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after acquiring an additional 10 shares during the period. Onyx Bridge Wealth Group LLC boosted its stake in shares of BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 11 shares in the last quarter. Ballentine Partners LLC boosted its position in BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after acquiring an additional 11 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

BLK has been the subject of several analyst reports. StockNews.com assumed coverage on BlackRock in a report on Wednesday, January 8th. They set a “hold” rating for the company. Keefe, Bruyette & Woods cut their price objective 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. The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen upped their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company reduced their price target on shares of BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,083.92.

BlackRock Price Performance

BLK stock traded down $1.45 during mid-day trading on Monday, reaching $954.19. 793,890 shares of the company’s stock were exchanged, compared to its average volume of 734,010. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company has a market cap of $147.78 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. The stock’s 50 day moving average is $1,030.97 and its 200 day moving average is $941.35. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,082.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $10.91 earnings per share. On average, research analysts expect that BlackRock, Inc. will post 43.18 EPS for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued 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 2.14%. BlackRock’s payout ratio is currently 50.35%.

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.