Fiduciary Financial Group LLC Invests $216,000 in BlackRock, Inc. (NYSE:BLK)

Fiduciary Financial Group LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 226 shares of the asset manager’s stock, valued at approximately $216,000.

Other institutional investors have also made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in shares of BlackRock during the third quarter worth $26,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter worth $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the third quarter worth $37,000. MFA Wealth Advisors LLC lifted its position in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares in the last quarter. Finally, Addison Advisors LLC lifted its position in shares of BlackRock by 81.5% during the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was 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.

BlackRock Stock Up 5.1 %

BlackRock stock opened at $1,012.62 on Thursday. The company has a 50-day simple moving average of $1,029.20 and a 200-day simple moving average of $943.81. The firm has a market capitalization of $156.83 billion, a P/E ratio of 24.99, a P/E/G ratio of 1.92 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.66 earnings per share. As a group, equities analysts expect that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup upped their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. TD Cowen upped 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. The Goldman Sachs Group upped their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley upped their price target on shares of BlackRock from $1,245.00 to $1,261.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,088.67.

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.