Drive Wealth Management LLC Sells 99 Shares of BlackRock, Inc. (NYSE:BLK)

Drive Wealth Management LLC trimmed its stake in shares of BlackRock, Inc. (NYSE:BLK) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 538 shares of the asset manager’s stock after selling 99 shares during the quarter. Drive Wealth Management LLC’s holdings in BlackRock were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in BLK. FSA Wealth Management LLC bought a new position in BlackRock during the 3rd quarter worth approximately $26,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock in the 4th quarter worth about $36,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the 3rd quarter worth about $37,000. MFA Wealth Advisors LLC increased its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares in the last quarter. Finally, West Financial Advisors LLC bought a new stake in BlackRock in the fourth quarter worth approximately $39,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Up 0.2 %

Shares of NYSE:BLK opened at $1,020.19 on Monday. The company has a market capitalization of $158.01 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The business has a fifty day moving average price of $1,024.23 and a two-hundred day moving average price of $954.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45.

BlackRock (NYSE:BLK) last released its 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. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the firm earned $9.66 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. Analysts forecast that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. BlackRock’s payout ratio is 48.57%.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,190 shares of company stock worth $104,436,741. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

BLK has been the subject of several research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. UBS Group upped their target price 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. TD Cowen lifted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company raised their price objective on shares of BlackRock from $1,155.00 to $1,175.00 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

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.