Concord Wealth Partners Boosts Stock Position in BlackRock, Inc. (NYSE:BLK)

Concord Wealth Partners grew its holdings in BlackRock, Inc. (NYSE:BLK) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 723 shares of the asset manager’s stock after purchasing an additional 66 shares during the period. Concord Wealth Partners’ holdings in BlackRock were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. Concord Asset Management LLC VA boosted its holdings in shares of BlackRock by 18.4% in the fourth quarter. Concord Asset Management LLC VA now owns 547 shares of the asset manager’s stock valued at $561,000 after purchasing an additional 85 shares during the period. Chicago Partners Investment Group LLC raised its position in BlackRock by 10.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 780 shares of the asset manager’s stock valued at $770,000 after purchasing an additional 71 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of BlackRock in the 4th quarter worth $1,794,000. Everett Harris & Co. CA bought a new position in shares of BlackRock during the 4th quarter worth $3,508,000. Finally, Clear Creek Financial Management LLC raised its holdings in shares of BlackRock by 42.8% in the fourth quarter. Clear Creek Financial Management LLC now owns 444 shares of the asset manager’s stock valued at $455,000 after acquiring an additional 133 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 sale, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. This represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated 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 transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,190 shares of company stock valued at $115,163,141 over the last 90 days. Insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.4 %

Shares of BlackRock stock opened at $1,075.83 on Friday. The firm’s 50 day simple moving average is $1,026.43 and its two-hundred day simple moving average is $962.18. The firm has a market capitalization of $166.63 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. 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 (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) 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 analyst estimates of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the business posted $9.66 EPS. Analysts predict that BlackRock, Inc. will post 47.45 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a $5.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is presently 48.57%.

Analysts Set New Price Targets

A number of research firms have commented on BLK. UBS Group raised their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Barclays cut their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. TD Cowen upped their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Morgan Stanley lifted their price target on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Citigroup raised their price objective on 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

About BlackRock

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.