Regent Peak Wealth Advisors LLC Takes $493,000 Position in BlackRock, Inc. (NYSE:BLK)

Regent Peak Wealth Advisors LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 481 shares of the asset manager’s stock, valued at approximately $493,000.

Several other institutional investors also recently bought and sold shares of BLK. Pathway Financial Advisers LLC lifted its holdings in shares of BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock valued at $993,312,000 after purchasing an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC lifted its stake in BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock valued at $7,526,120,000 after acquiring an additional 791,874 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of BlackRock during the 4th quarter valued at about $330,662,000. FMR LLC grew its stake in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after acquiring an additional 226,135 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in BlackRock during the third quarter valued at approximately $115,377,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, 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. Insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.9 %

NYSE BLK opened at $1,004.23 on Tuesday. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The company’s 50-day moving average price is $1,027.33 and its 200-day moving average price is $948.40. The stock has a market cap of $155.54 billion, a PE ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $9.66 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 43.02 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. StockNews.com assumed coverage on shares of BlackRock in a research note on Thursday, January 16th. They issued a “hold” rating on the stock. Finally, TD Cowen upped their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,103.33.

About BlackRock

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.