BlackRock, Inc. (NYSE:BLK) Position Increased by Southland Equity Partners LLC

Southland Equity Partners LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 55.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,235 shares of the asset manager’s stock after purchasing an additional 438 shares during the period. Southland Equity Partners LLC’s holdings in BlackRock were worth $1,266,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BLK. FSA Wealth Management LLC purchased a new position in BlackRock during the 3rd quarter worth approximately $26,000. Atwood & Palmer Inc. purchased a new position in shares of BlackRock during the 4th quarter valued at $36,000. Reston Wealth Management LLC acquired a new position in BlackRock in the 3rd quarter worth about $37,000. MFA Wealth Advisors LLC raised its position 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 acquiring an additional 20 shares in the last quarter. Finally, West Financial Advisors LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. UBS Group boosted their price target on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley upped their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

Get Our Latest Stock Report on BLK

BlackRock Stock Performance

BlackRock stock opened at $1,016.99 on Friday. The stock has a market capitalization of $157.51 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,082.45. 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 50-day simple moving average of $1,025.37 and a 200 day simple moving average of $951.85.

BlackRock (NYSE:BLKGet Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the company posted $9.66 EPS. On average, research analysts anticipate that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

Insider Activity at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the company’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 transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 68,433 shares in the company, valued at $69,117,330. This trade represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,190 shares of company stock valued at $104,436,741. Insiders own 0.90% of the company’s stock.

BlackRock Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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