Monterey Private Wealth Inc. Takes $227,000 Position in BlackRock, Inc. (NYSE:BLK)

Monterey Private Wealth Inc. bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, HoldingsChannel reports. The firm bought 222 shares of the asset manager’s stock, valued at approximately $227,000.

Other large investors have also recently bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new stake in shares of BlackRock in the 3rd quarter worth about $518,000. Erste Asset Management GmbH bought a new stake in BlackRock during the third quarter worth about $32,904,000. Raymond James Trust N.A. boosted its holdings in shares of BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after acquiring an additional 614 shares in the last quarter. MML Investors Services LLC increased its holdings in BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock valued at $65,010,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after purchasing an additional 565 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’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 sale, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on BLK shares. JPMorgan Chase & Co. lifted their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Wells Fargo & Company boosted 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 note on Thursday, January 16th. Barclays decreased their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Morgan Stanley boosted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Evercore ISI upped their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,103.33.

BlackRock Stock Up 0.9 %

NYSE:BLK opened at $1,004.23 on Tuesday. The stock’s fifty day simple moving average is $1,026.34 and its 200-day simple moving average is $949.91. The firm has a market capitalization of $155.54 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,082.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the business posted $9.66 EPS. BlackRock’s revenue was up 22.6% on a year-over-year basis. Equities research analysts expect that BlackRock, Inc. will post 47.23 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. 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 2.03%. BlackRock’s dividend payout ratio is 48.57%.

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.