2,079 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Brooklyn FI LLC

Brooklyn FI LLC purchased a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,079 shares of the asset manager’s stock, valued at approximately $2,113,000.

Other hedge funds have also modified their holdings of the company. FSA Wealth Management LLC bought a new position in shares of BlackRock during the third quarter worth $26,000. IAG Wealth Partners LLC bought a new position in BlackRock during the 4th quarter worth about $26,000. Collier Financial acquired a new stake in BlackRock in the 4th quarter valued at approximately $32,000. Compass Planning Associates Inc bought a new stake in shares of BlackRock in the fourth quarter worth $33,000. Finally, Atwood & Palmer Inc. bought a new stake in BlackRock during the 4th quarter worth about $36,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction 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 of the company’s stock, valued at $73,403,973.12. The trade was a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 20,430 shares of company stock valued at $21,234,629 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of NYSE BLK opened at $957.17 on Wednesday. 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 firm has a market cap of $148.60 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 1.90 and a beta of 1.28. The stock’s fifty day moving average price is $982.08 and its two-hundred day moving average price is $987.81. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22.

BlackRock (NYSE:BLK) last released its quarterly 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 net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the company posted $9.66 earnings per share. BlackRock’s revenue was up 22.6% compared to the same quarter last year. On average, equities analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a $5.21 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s payout ratio is 49.62%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BLK shares. Barclays decreased 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 report on Monday, January 13th. Keefe, Bruyette & Woods reduced 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. Citigroup upped their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Morgan Stanley boosted their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, UBS Group raised their price target on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

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.