McGlone Suttner Wealth Management Inc. Acquires 45 Shares of BlackRock, Inc. (NYSE:BLK)

McGlone Suttner Wealth Management Inc. grew its holdings in BlackRock, Inc. (NYSE:BLK) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 891 shares of the asset manager’s stock after purchasing an additional 45 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in BlackRock were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. State Street Corp lifted its holdings in BlackRock by 0.7% during the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after buying an additional 42,757 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after acquiring an additional 30,182 shares in the last quarter. FMR LLC boosted its holdings in shares of BlackRock by 10.6% in the third 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 increased its holdings in BlackRock by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after purchasing an additional 40,865 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after buying an additional 46,728 shares during the period. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

NYSE:BLK opened at $1,016.99 on Friday. The company has a fifty day moving average of $1,025.37 and a two-hundred day moving average of $951.85. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The stock has a market capitalization of $157.51 billion, a PE ratio of 24.21, a P/E/G ratio of 1.83 and a beta of 1.28. 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 issued 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 period last year, the company posted $9.66 EPS. BlackRock’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, research analysts forecast that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.01%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Analyst Ratings Changes

A number of research firms have commented on BLK. Barclays cut their target price 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. 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. TD Cowen raised their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Citigroup raised their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Transactions at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the sale, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. This trade represents a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,190 shares of company stock valued at $104,436,741 over the last 90 days. 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.