Teamwork Financial Advisors LLC Lowers Stock Position in BlackRock, Inc. (NYSE:BLK)

Teamwork Financial Advisors LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 197 shares of the asset manager’s stock after selling 41 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in BlackRock were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC raised its holdings in BlackRock by 19.9% in the second quarter. AE Wealth Management LLC now owns 1,162 shares of the asset manager’s stock valued at $915,000 after buying an additional 193 shares during the period. Fred Alger Management LLC increased its position in shares of BlackRock by 8.2% in the second quarter. Fred Alger Management LLC now owns 10,983 shares of the asset manager’s stock worth $8,647,000 after acquiring an additional 830 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of BlackRock by 176.9% in the 2nd quarter. AQR Capital Management LLC now owns 78,797 shares of the asset manager’s stock valued at $62,026,000 after acquiring an additional 50,342 shares during the period. APG Asset Management N.V. lifted its holdings in shares of BlackRock by 3.3% during the 2nd quarter. APG Asset Management N.V. now owns 343,581 shares of the asset manager’s stock valued at $252,399,000 after acquiring an additional 10,873 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after purchasing an additional 46,728 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,016.99 on Friday. The firm has a market cap of $157.51 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The firm’s 50-day simple moving average is $1,025.37 and its 200-day simple moving average is $951.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last released 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 company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. During the same quarter last year, the business posted $9.66 EPS. BlackRock’s quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts forecast that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.01%. BlackRock’s payout ratio is 48.57%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Citigroup increased 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. 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 report on Thursday, January 16th. Finally, TD Cowen lifted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

Insiders Place Their Bets

In related news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction dated 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 sale, the director now owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, 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. Over the last three months, insiders have sold 100,190 shares of company stock valued at $104,436,741. Company insiders own 0.90% of the company’s stock.

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.