Concurrent Investment Advisors LLC Takes $4.40 Million Position in BlackRock, Inc. (NYSE:BLK)

Concurrent Investment Advisors LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,289 shares of the asset manager’s stock, valued at approximately $4,397,000.

Other institutional investors also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in shares of BlackRock in the third quarter valued at approximately $26,000. Collier Financial acquired a new stake in BlackRock in the 4th quarter valued at $32,000. Atwood & Palmer Inc. purchased a new stake in BlackRock in the 4th quarter worth $36,000. Reston Wealth Management LLC acquired a new position in BlackRock during the third quarter worth $37,000. Finally, MFA Wealth Advisors LLC lifted its holdings in BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Up 0.4 %

NYSE BLK opened at $990.47 on Friday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $153.40 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.88 and a beta of 1.28. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The firm has a 50-day moving average price of $1,013.24 and a 200 day moving average price of $976.04.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $9.66 EPS. Equities research analysts expect that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a $5.21 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. BlackRock’s payout ratio is currently 48.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays dropped their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company raised their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. StockNews.com began coverage on shares of BlackRock in a report on Monday. They set a “hold” rating for the company. Finally, UBS Group raised their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Activity at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the transaction, the director now directly owns 68,433 shares in the company, 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 valued at $115,163,141. 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.