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

Centurion Wealth Management LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) 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:BLK) 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.

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

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.