Traveka Wealth LLC Purchases New Shares in BlackRock, Inc. (NYSE:BLK)

Traveka Wealth LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, Holdings Channel.com reports. The firm bought 214 shares of the asset manager’s stock, valued at approximately $219,000.

Other institutional investors have also added to or reduced their stakes in the company. PFW Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at $2,567,000. Marion Wealth Management grew its position in shares of BlackRock by 3.9% during the 4th quarter. Marion Wealth Management now owns 2,546 shares of the asset manager’s stock valued at $2,609,000 after acquiring an additional 95 shares during the period. Miracle Mile Advisors LLC raised its stake in shares of BlackRock by 2.5% in the fourth quarter. Miracle Mile Advisors LLC now owns 579 shares of the asset manager’s stock worth $593,000 after buying an additional 14 shares during the period. Northstar Advisory Group LLC increased its stake in shares of BlackRock by 11.5% in the fourth quarter. Northstar Advisory Group LLC now owns 699 shares of the asset manager’s stock worth $717,000 after purchasing an additional 72 shares in the last quarter. Finally, Burns J W & Co. Inc. NY bought a new position in BlackRock in the 4th quarter worth $861,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated 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 owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

BlackRock Price Performance

NYSE BLK opened at $954.19 on Tuesday. The company has a market cap of $147.78 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 1.92 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock’s fifty day moving average price is $1,030.22 and its 200 day moving average price is $942.57. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the business posted $10.91 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently disclosed 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 of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.14%. BlackRock’s payout ratio is currently 50.35%.

Wall Street Analysts Forecast Growth

BLK has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Citigroup raised their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays reduced 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. Finally, The Goldman Sachs Group raised their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,083.92.

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.