HBK Sorce Advisory LLC Has $3.74 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

HBK Sorce Advisory LLC raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,644 shares of the asset manager’s stock after purchasing an additional 94 shares during the period. HBK Sorce Advisory LLC’s holdings in BlackRock were worth $3,735,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BLK. FSA Wealth Management LLC acquired a new position in BlackRock during the third quarter valued at approximately $26,000. Collier Financial acquired a new position in shares of BlackRock during the fourth quarter worth $32,000. Compass Planning Associates Inc acquired a new position in shares of BlackRock during the fourth quarter worth $33,000. Atwood & Palmer Inc. acquired a new position in shares of BlackRock during the fourth quarter worth $36,000. Finally, West Financial Advisors LLC acquired a new position in shares of BlackRock during the fourth quarter worth $39,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BLK shares. 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 report on Monday, January 13th. Citigroup upped their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Barclays reduced 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, January 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Performance

Shares of BLK opened at $909.96 on Thursday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $141.27 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. The firm’s fifty day simple moving average is $987.79 and its two-hundred day simple moving average is $985.88. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22.

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

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.29%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is 49.62%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 20,430 shares of company stock valued at $21,234,629 in the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

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.