Hedeker Wealth LLC Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Hedeker Wealth LLC bought a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,912 shares of the asset manager’s stock, valued at approximately $1,960,000.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup raised their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Evercore ISI lifted their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group lifted their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. StockNews.com started coverage on shares of BlackRock in a research note on Saturday, February 1st. They issued a “hold” rating for the company. Finally, Morgan Stanley boosted their target price 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. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Down 0.8 %

Shares of BLK stock opened at $1,005.99 on Friday. The firm has a fifty day moving average of $1,025.82 and a 200-day moving average of $966.82. 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 $1,084.22. The company has a market capitalization of $155.81 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 2.06 and a beta of 1.28.

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. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s revenue for the quarter 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, equities research analysts predict that BlackRock, Inc. will post 47.45 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a $5.21 dividend. The ex-dividend date is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.07%. BlackRock’s payout ratio is presently 48.57%.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares in the company, valued at $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,190 shares of company stock worth $115,163,141 in the last three months. 0.90% of the stock is owned by corporate insiders.

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.