RMR Wealth Builders Invests $2.14 Million in BlackRock, Inc. (NYSE:BLK)

RMR Wealth Builders purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,084 shares of the asset manager’s stock, valued at approximately $2,136,000.

Several other institutional investors also recently bought and sold shares of the business. FSA Wealth Management LLC purchased a new stake in BlackRock in the third quarter valued at approximately $26,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock during the 2nd quarter valued at $31,000. Reston Wealth Management LLC acquired a new stake in shares of BlackRock during the 3rd quarter worth $37,000. MFA Wealth Advisors LLC raised its position in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the period. Finally, Modus Advisors LLC acquired a new position in BlackRock in the fourth quarter valued at $48,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. The trade was a 56.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the 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 of the company’s stock, valued at $6,777,432. This represents 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 currently owned by insiders.

Analysts Set New Price Targets

BLK has been the subject of several research analyst reports. Morgan Stanley raised their price objective on BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft lifted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wells Fargo & Company reduced 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. Finally, TD Cowen increased their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,100.50.

BlackRock Trading Up 5.1 %

NYSE BLK opened at $1,012.62 on Thursday. The company has a market capitalization of $156.83 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth 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. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The company’s fifty day moving average price is $1,029.20 and its two-hundred day moving average price is $943.81.

BlackRock (NYSE:BLK) last issued 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 business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company posted $9.66 earnings per share. As a group, research analysts predict that BlackRock, Inc. will post 43.18 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.01%. BlackRock’s dividend payout ratio is currently 50.35%.

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.