Paragon Private Wealth Management LLC Buys 208 Shares of BlackRock, Inc. (NYSE:BLK)

Paragon Private Wealth Management LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 20.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,249 shares of the asset manager’s stock after purchasing an additional 208 shares during the period. Paragon Private Wealth Management LLC’s holdings in BlackRock were worth $1,280,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BLK. Oddo BHF Asset Management Sas purchased a new stake in shares of BlackRock in the 3rd quarter worth about $518,000. Amalgamated Bank increased its stake in BlackRock by 1.7% during the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock valued at $29,432,000 after purchasing an additional 489 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of BlackRock by 4.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock worth $12,793,000 after acquiring an additional 578 shares during the period. Erste Asset Management GmbH bought a new stake in shares of BlackRock in the third quarter worth approximately $32,904,000. Finally, Raymond James Trust N.A. grew its stake in shares of BlackRock by 2.3% in the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after acquiring an additional 614 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Down 1.2 %

Shares of NYSE:BLK opened at $947.96 on Monday. The stock’s 50-day moving average price is $994.60 and its two-hundred day moving average price is $985.86. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The firm has a market cap of $146.82 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $9.66 EPS. The company’s revenue was up 22.6% on a year-over-year basis. On average, research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The firm 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. This represents a $20.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is 49.62%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

BLK has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Barclays lowered their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, StockNews.com began coverage on shares of BlackRock in a report on Wednesday, March 5th. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

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.