Cape Investment Advisory Inc. Purchases Shares of 321 BlackRock, Inc. (NYSE:BLK)

Cape Investment Advisory Inc. acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 321 shares of the asset manager’s stock, valued at approximately $329,000.

A number of other large investors have also recently made changes to their positions in BLK. FSA Wealth Management LLC acquired a new stake in shares of BlackRock during the third quarter worth about $26,000. Collier Financial acquired a new stake in BlackRock in the fourth quarter valued at $32,000. Compass Planning Associates Inc purchased a new stake in BlackRock during the fourth quarter worth about $33,000. Atwood & Palmer Inc. purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $36,000. Finally, Reston Wealth Management LLC purchased a new stake in BlackRock during the third quarter worth $37,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent research reports. Citigroup boosted their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Wells Fargo & Company upped their target price on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI upped their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Performance

NYSE BLK opened at $979.44 on Friday. The business’s 50-day moving average price is $1,003.74 and its 200 day moving average price is $981.81. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The company has a market capitalization of $151.69 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. The business 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 company’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $9.66 EPS. On average, research analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be paid a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.13%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is currently 49.62%.

BlackRock 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.