Callan Capital LLC Buys 23 Shares of BlackRock, Inc. (NYSE:BLK)

Callan Capital LLC raised its stake in BlackRock, Inc. (NYSE:BLK) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 423 shares of the asset manager’s stock after purchasing an additional 23 shares during the period. Callan Capital LLC’s holdings in BlackRock were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BLK. Fidelity D & D Bancorp Inc. lifted its holdings in shares of BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after acquiring an additional 10 shares during the period. Princeton Global Asset Management LLC lifted its holdings in shares of BlackRock by 8.7% during the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after acquiring an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of BlackRock by 0.8% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after acquiring an additional 10 shares during the period. Legacy Capital Group California Inc. lifted its holdings in shares of BlackRock by 2.8% during the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after acquiring an additional 10 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after acquiring an additional 11 shares during the period. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BLK. Barclays reduced their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. 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 report on Monday, December 23rd. UBS Group raised their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley lifted their price target 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 given a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

BlackRock stock opened at $974.97 on Friday. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The stock’s 50 day moving average price is $1,011.61 and its two-hundred day moving average price is $978.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market capitalization of $151.00 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the business earned $9.66 EPS. The business’s revenue was up 22.6% on a year-over-year basis. On average, equities analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a $5.21 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, March 7th. BlackRock’s payout ratio is currently 48.57%.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 36,190 shares of the business’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 completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,190 shares of company stock worth $115,163,141. Company insiders own 0.90% of the company’s stock.

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.