Money Concepts Capital Corp Sells 37 Shares of BlackRock, Inc. (NYSE:BLK)

Money Concepts Capital Corp trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,135 shares of the asset manager’s stock after selling 37 shares during the period. Money Concepts Capital Corp’s holdings in BlackRock were worth $1,163,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Czech National Bank raised its holdings in shares of BlackRock by 6.6% in the 3rd quarter. Czech National Bank now owns 28,364 shares of the asset manager’s stock worth $26,932,000 after buying an additional 1,745 shares in the last quarter. Miracle Mile Advisors LLC raised its stake in BlackRock by 7.2% during the third quarter. Miracle Mile Advisors LLC now owns 565 shares of the asset manager’s stock worth $536,000 after acquiring an additional 38 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of BlackRock by 28.4% during the third quarter. Atomi Financial Group Inc. now owns 1,593 shares of the asset manager’s stock valued at $1,513,000 after acquiring an additional 352 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of BlackRock in the 3rd quarter valued at $25,328,000. Finally, O Keefe Stevens Advisory Inc. grew its holdings in shares of BlackRock by 38.2% in the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 630 shares of the asset manager’s stock worth $598,000 after purchasing an additional 174 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Stock Performance

BlackRock stock opened at $1,014.43 on Thursday. The company has a market cap of $157.11 billion, a PE ratio of 24.15, a PEG ratio of 2.06 and a beta of 1.28. 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 company’s 50-day moving average is $1,025.92 and its two-hundred day moving average is $966.48.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the business posted $9.66 earnings per share. BlackRock’s revenue was up 22.6% compared to the same quarter last year. Equities analysts anticipate that BlackRock, Inc. will post 47.45 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is currently 48.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen boosted 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. Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Evercore ISI increased their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price target on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares of the company’s stock, valued at $73,403,973.12. The trade was a 12.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is currently owned by company insiders.

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.