Centurion Wealth Management LLC Invests $699,000 in BlackRock, Inc. (NYSE:BLK)

Centurion Wealth Management LLC purchased a new position in BlackRock, Inc. (NYSE:BLKFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 682 shares of the asset manager’s stock, valued at approximately $699,000.

A number of other large investors also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. bought a new stake in BlackRock in the 4th quarter valued at about $29,309,000. Choate Investment Advisors lifted its position in BlackRock by 16.9% in the 4th quarter. Choate Investment Advisors now owns 2,813 shares of the asset manager’s stock valued at $2,884,000 after purchasing an additional 406 shares during the last quarter. Diversified Enterprises LLC lifted its position in BlackRock by 4.2% in the 4th quarter. Diversified Enterprises LLC now owns 345 shares of the asset manager’s stock valued at $353,000 after purchasing an additional 14 shares during the last quarter. Natixis Advisors LLC lifted its position in BlackRock by 1.8% in the 4th quarter. Natixis Advisors LLC now owns 101,226 shares of the asset manager’s stock valued at $103,768,000 after purchasing an additional 1,748 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its position in BlackRock by 19.6% in the 4th quarter. Frank Rimerman Advisors LLC now owns 689 shares of the asset manager’s stock valued at $706,000 after purchasing an additional 113 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

Shares of BLK opened at $928.74 on Friday. The company’s 50 day moving average price is $983.61 and its 200 day moving average price is $986.30. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The company has a market capitalization of $144.19 billion, a PE ratio of 22.11, a PEG ratio of 1.90 and a beta of 1.29. 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 (NYSE:BLKGet Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS 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 the consensus estimate of $5.57 billion. During the same period in the previous year, the firm posted $9.66 earnings per share. The firm’s revenue was up 22.6% on a year-over-year basis. Research analysts expect that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced 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 of this dividend is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.24%. BlackRock’s payout ratio is 49.62%.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. UBS Group boosted their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Citigroup boosted their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Wells Fargo & Company boosted their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

Get Our Latest Report on BlackRock

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 430 shares of BlackRock stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the sale, the director now directly owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 20,430 shares of company stock worth $21,234,629 over the last ninety days. 0.90% of the stock is currently owned by insiders.

BlackRock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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