Roxbury Financial LLC Purchases New Position in BlackRock, Inc. (NYSE:BLK)

Roxbury Financial LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 766 shares of the asset manager’s stock, valued at approximately $784,000.

Several other institutional investors have also recently added to or reduced their stakes in BLK. FSA Wealth Management LLC bought a new position in BlackRock during the 3rd quarter valued at about $26,000. Collier Financial bought a new position in BlackRock during the 4th quarter valued at about $32,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock in the fourth quarter worth about $36,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the third quarter worth about $37,000. Finally, MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.7 %

Shares of NYSE BLK opened at $973.22 on Friday. The stock has a market cap of $150.73 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.93 and a beta of 1.28. The firm has a 50 day moving average price of $1,020.68 and a 200 day moving average price of $972.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the firm posted $9.66 earnings per share. The business’s revenue was up 22.6% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be paid a $5.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.14%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is presently 48.57%.

Analysts Set New Price Targets

BLK has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of BlackRock in a research note on Sunday, February 9th. They issued a “hold” rating for the company. Citigroup boosted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Buying and Selling at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred 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 owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is currently owned by corporate insiders.

About BlackRock

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.