BlackRock, Inc. (NYSE:BLK) Stake Decreased by Physician Wealth Advisors Inc.

Physician Wealth Advisors Inc. trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313 shares of the asset manager’s stock after selling 16 shares during the quarter. Physician Wealth Advisors Inc.’s holdings in BlackRock were worth $321,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. United Bank increased its holdings in shares of BlackRock by 1.1% during the third quarter. United Bank now owns 1,121 shares of the asset manager’s stock valued at $1,064,000 after purchasing an additional 12 shares during the period. Fred Alger Management LLC increased its stake in BlackRock by 2.7% during the 3rd quarter. Fred Alger Management LLC now owns 11,283 shares of the asset manager’s stock valued at $10,713,000 after buying an additional 300 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of BlackRock by 4.9% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 57,902 shares of the asset manager’s stock worth $54,979,000 after buying an additional 2,711 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of BlackRock in the third quarter valued at approximately $5,792,000. Finally, Cobblestone Capital Advisors LLC NY boosted its holdings in shares of BlackRock by 2.7% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,101 shares of the asset manager’s stock valued at $1,045,000 after acquiring an additional 29 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on BLK shares. UBS Group upped their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. StockNews.com started coverage on BlackRock in a research report on Saturday. They issued a “hold” rating for the company. Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup upped their price target 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. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were 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. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 20,430 shares of company stock worth $21,234,629 in the last 90 days. 0.90% of the stock is owned by insiders.

BlackRock Trading Down 2.1 %

NYSE BLK opened at $947.48 on Friday. 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, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The firm’s fifty day simple moving average is $978.66 and its 200-day simple moving average is $991.44. The company has a market capitalization of $147.10 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during 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%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the business earned $9.66 EPS. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 2.20%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend was Friday, March 7th. BlackRock’s payout ratio is currently 49.62%.

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.