HB Wealth Management LLC Acquires Shares of 6,417 BlackRock, Inc. (NYSE:BLK)

HB Wealth Management LLC bought a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, Holdings Channel reports. The firm bought 6,417 shares of the asset manager’s stock, valued at approximately $6,579,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Oddo BHF Asset Management Sas acquired a new stake in shares of BlackRock during the 3rd quarter worth approximately $518,000. Erste Asset Management GmbH acquired a new stake in BlackRock during the third quarter valued at $32,904,000. Raymond James Trust N.A. raised its position in shares of BlackRock by 2.3% in the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after acquiring an additional 614 shares during the period. MML Investors Services LLC boosted its stake in shares of BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after acquiring an additional 1,852 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after acquiring an additional 565 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Stock Up 0.9 %

BLK stock opened at $1,004.23 on Friday. The company has a market cap of $155.53 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. The firm has a 50-day moving average of $1,027.33 and a two-hundred day moving average of $946.18. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $9.66 earnings per share. As a group, analysts forecast that BlackRock, Inc. will post 43.02 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is currently 48.57%.

Analyst Ratings Changes

BLK has been the topic of a number of recent analyst reports. Citigroup increased their price target on 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 dropped 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 research note on Monday, January 13th. StockNews.com initiated coverage on shares of BlackRock in a research report on Thursday. They set a “hold” rating for the company. Evercore ISI boosted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays decreased their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,103.33.

Insiders Place Their Bets

In other news, 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 transaction of $37,851,121.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was 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 $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

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.