BlackRock, Inc. (NYSE:BLK) Shares Acquired by Marion Wealth Management

Marion Wealth Management boosted its stake in BlackRock, Inc. (NYSE:BLK) by 3.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,546 shares of the asset manager’s stock after purchasing an additional 95 shares during the period. Marion Wealth Management’s holdings in BlackRock were worth $2,609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new stake in BlackRock in the third quarter valued at approximately $518,000. Erste Asset Management GmbH acquired a new stake in BlackRock during the 3rd quarter worth $32,904,000. Raymond James Trust N.A. lifted its position 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 valued at $25,724,000 after acquiring an additional 614 shares during the last quarter. MML Investors Services LLC boosted its position in shares of BlackRock by 2.8% in the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock valued at $65,010,000 after purchasing an additional 1,852 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its position in BlackRock by 20.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after buying an additional 565 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of several analyst reports. Citigroup upped their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. The Goldman Sachs Group lifted their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Evercore ISI raised their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays lowered 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 note on Monday. 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 on the stock in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,083.92.

BlackRock Stock Down 0.2 %

Shares of NYSE BLK traded down $1.45 during midday 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 stock has a market capitalization of $147.78 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The business’s fifty day moving average price is $1,030.97 and its two-hundred day moving average price is $941.35.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion for 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 company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $10.91 earnings per share. Analysts forecast that BlackRock, Inc. will post 43.18 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.14%. BlackRock’s dividend payout ratio is currently 50.35%.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was 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 directly owns 6,480 shares of the company’s stock, valued at $6,777,432. This represents a 84.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents 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 currently owned by insiders.

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.