Atlantic Union Bankshares Corp Sells 53 Shares of BlackRock, Inc. (NYSE:BLK)

Atlantic Union Bankshares Corp decreased its position in BlackRock, Inc. (NYSE:BLK) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,610 shares of the asset manager’s stock after selling 53 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in BlackRock were worth $2,676,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter worth approximately $26,000. Collier Financial acquired a new stake in BlackRock in the 4th quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new stake in BlackRock in the 4th quarter worth approximately $33,000. Atwood & Palmer Inc. acquired a new position in shares of BlackRock during the fourth quarter worth approximately $36,000. Finally, West Financial Advisors LLC acquired a new position in shares of BlackRock during the fourth quarter worth approximately $39,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 1.2 %

NYSE BLK opened at $947.96 on Friday. The firm has a market cap of $146.82 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.90 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The stock’s 50-day moving average is $994.60 and its 200-day moving average is $985.00. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22.

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

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.20%. BlackRock’s dividend payout ratio (DPR) is presently 49.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com assumed coverage on BlackRock in a report on Wednesday. They set a “hold” rating for the company. Barclays cut their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Keefe, Bruyette & Woods cut their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upped their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. upped their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by corporate 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.