BlackRock, Inc. (NYSE:BLK) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC lifted its stake in BlackRock, Inc. (NYSE:BLK) by 81.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 717 shares of the asset manager’s stock after buying an additional 321 shares during the period. Modern Wealth Management LLC’s holdings in BlackRock were worth $707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLK. United Bank increased its stake in BlackRock by 1.1% in the third quarter. United Bank now owns 1,121 shares of the asset manager’s stock valued at $1,064,000 after purchasing an additional 12 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in BlackRock by 1,150.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 150 shares of the asset manager’s stock worth $142,000 after acquiring an additional 138 shares during the period. Truvestments Capital LLC purchased a new position in BlackRock in the third quarter worth $105,000. Hancock Whitney Corp lifted its holdings in BlackRock by 5.9% in the third quarter. Hancock Whitney Corp now owns 467 shares of the asset manager’s stock valued at $443,000 after acquiring an additional 26 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of BlackRock by 27.5% during the 3rd quarter. D.A. Davidson & CO. now owns 8,609 shares of the asset manager’s stock worth $8,174,000 after purchasing an additional 1,857 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. UBS Group lifted their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, StockNews.com started coverage on shares of BlackRock in a research report on Friday, March 21st. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now owns 68,433 shares in the company, valued at $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 20,430 shares of company stock worth $21,234,629 over the last ninety days. 0.90% of the stock is owned by company insiders.

BlackRock Stock Down 0.5 %

Shares of NYSE BLK opened at $968.79 on Thursday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $150.41 billion, a PE ratio of 23.07, a P/E/G ratio of 1.90 and a beta of 1.28. The firm has a fifty day moving average of $980.33 and a 200-day moving average of $990.36. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22.

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

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.15%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date was Friday, March 7th. BlackRock’s payout ratio is 49.62%.

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.