Consilio Wealth Advisors LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 207 shares of the asset manager’s stock, valued at approximately $212,000.
A number of other hedge funds have also recently made changes to their positions in BLK. Oddo BHF Asset Management Sas bought a new position in shares of BlackRock during the third quarter worth about $518,000. Erste Asset Management GmbH bought a new stake in BlackRock in the third quarter worth approximately $32,904,000. Raymond James Trust N.A. increased its holdings in BlackRock by 2.3% in the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after purchasing an additional 614 shares in the last quarter. MML Investors Services LLC increased its holdings in BlackRock by 2.8% in the third quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after purchasing an additional 565 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on BLK. Barclays lowered their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group lifted their target price on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Wells Fargo & Company decreased their price objective on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price objective on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,083.92.
BlackRock Stock Performance
BLK stock traded up $0.56 during midday trading on Monday, hitting $956.20. The company’s stock had a trading volume of 562,299 shares, compared to its average volume of 696,236. The stock’s 50-day moving average price is $1,030.97 and its 200 day moving average price is $941.35. 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, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The stock has a market cap of $148.10 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.92 and a beta of 1.28.
BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the previous year, the firm earned $10.91 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts forecast that BlackRock, Inc. will post 43.18 EPS 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 2.13%. BlackRock’s dividend payout ratio is presently 50.35%.
Insider Activity
In other news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction on 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 sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
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.
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