Colonial River Wealth Management LLC Buys Shares of 270 BlackRock, Inc. (NYSE:BLK)

Colonial River Wealth Management LLC bought a new stake in BlackRock, Inc. (NYSE:BLKFree Report) during the fourth quarter, Holdings Channel.com reports. The firm bought 270 shares of the asset manager’s stock, valued at approximately $219,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Baskin Financial Services Inc. lifted its stake in BlackRock by 0.9% in the fourth quarter. Baskin Financial Services Inc. now owns 42,776 shares of the asset manager’s stock valued at $34,726,000 after buying an additional 398 shares during the last quarter. Patten & Patten Inc. TN bought a new stake in shares of BlackRock during the fourth quarter valued at about $205,000. Bell Bank bought a new stake in shares of BlackRock during the fourth quarter valued at about $240,000. Drive Wealth Management LLC bought a new stake in shares of BlackRock during the fourth quarter valued at about $501,000. Finally, First Citizens Bank & Trust Co. raised its stake in shares of BlackRock by 3.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,347 shares of the asset manager’s stock valued at $1,905,000 after purchasing an additional 72 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. BNP Paribas upgraded shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a research note on Tuesday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, UBS Group boosted their price target on shares of BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $789.67.

Check Out Our Latest Report on BlackRock

BlackRock Trading Down 1.2 %

NYSE:BLK opened at $816.59 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The stock’s 50-day moving average is $807.63 and its two-hundred day moving average is $746.60. The stock has a market cap of $121.62 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 1.80 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last released its earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, beating the consensus estimate of $8.84 by $0.82. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the business posted $8.93 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities research analysts forecast that BlackRock, Inc. will post 40.23 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.50%. The ex-dividend date was Wednesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $5.00. BlackRock’s payout ratio is 55.88%.

Insider Activity at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director J. Richard Kushel sold 3,418 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $781.11, for a total value of $2,669,833.98. Following the completion of the sale, the director now directly owns 70,378 shares of the company’s stock, valued at approximately $54,972,959.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,511 shares of company stock valued at $71,864,028. 1.06% of the stock is owned by corporate insiders.

BlackRock Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLKFree Report).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.