Foster Victor Wealth Advisors LLC Sells 33 Shares of BlackRock, Inc. (NYSE:BLK)

Foster Victor Wealth Advisors LLC decreased its holdings in BlackRock, Inc. (NYSE:BLK) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 344 shares of the asset manager’s stock after selling 33 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in BlackRock were worth $346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of BlackRock during the 3rd quarter valued at about $26,000. Atwood & Palmer Inc. purchased a new position in BlackRock during the 4th quarter valued at approximately $36,000. West Financial Advisors LLC purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $39,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock in the third quarter valued at $37,000. Finally, MFA Wealth Advisors LLC lifted 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 purchasing an additional 20 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’s 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 sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,190 shares of company stock worth $104,436,741. Insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,053.50 on Thursday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average price is $1,024.30 and its 200-day moving average price is $958.99. The firm has a market cap of $163.17 billion, a P/E ratio of 25.08, 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.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during 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 quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.66 EPS. On average, equities research analysts expect that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal 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 dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 1.98%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is 48.57%.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group lifted their price target on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Citigroup lifted 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 note on Monday, December 23rd. TD Cowen raised their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. The Goldman Sachs Group raised their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods cut their target price 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

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.