Crestwood Advisors Group LLC Has $1.04 Million Position in BlackRock, Inc. (NYSE:BLK)

Crestwood Advisors Group LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 16.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,017 shares of the asset manager’s stock after buying an additional 140 shares during the quarter. Crestwood Advisors Group LLC’s holdings in BlackRock were worth $1,043,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after acquiring an additional 42,757 shares during the period. Geode Capital Management LLC raised its holdings in BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after purchasing an additional 30,182 shares during the last quarter. FMR LLC lifted its position in BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC boosted its stake in shares of BlackRock by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after purchasing an additional 40,865 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its position in shares of BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of BLK opened at $951.45 on Tuesday. The stock has a 50 day simple moving average of $1,009.33 and a 200 day simple moving average of $979.66. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The firm has a market capitalization of $147.36 billion, a PE ratio of 22.65, a P/E/G ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the company earned $9.66 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is 48.57%.

Analysts Set New Price Targets

BLK has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. StockNews.com initiated coverage on BlackRock in a research note on Tuesday. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup increased their target price 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. Finally, JPMorgan Chase & Co. raised their target price on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Buying and Selling at BlackRock

In other 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. This represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock valued at $115,163,141 in the last 90 days. 0.90% of the stock is currently owned by company 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.