Altium Wealth Management LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 0.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,331 shares of the asset manager’s stock after purchasing an additional 29 shares during the period. Altium Wealth Management LLC’s holdings in BlackRock were worth $1,674,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Garrett Wealth Advisory Group LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $30,000. Ellevest Inc. increased its holdings in BlackRock by 89.2% during the 2nd quarter. Ellevest Inc. now owns 70 shares of the asset manager’s stock worth $33,000 after purchasing an additional 33 shares in the last quarter. Asset Dedication LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $33,000. Vista Private Wealth Partners. LLC bought a new stake in BlackRock during the 3rd quarter worth approximately $33,000. Finally, Simon Quick Advisors LLC increased its holdings in BlackRock by 760.0% during the 4th quarter. Simon Quick Advisors LLC now owns 86 shares of the asset manager’s stock worth $43,000 after purchasing an additional 76 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on BLK shares. Deutsche Bank started coverage on BlackRock in a report on Thursday, January 9th. They issued a “buy” rating for the company. Citigroup upped their target price on BlackRock from $565.00 to $580.00 and gave the company a “buy” rating in a report on Monday. Barclays reaffirmed a “buy” rating and issued a $485.00 target price on shares of BlackRock in a report on Wednesday, October 9th. Wells Fargo & Co raised BlackRock from an “equal weight” rating to an “overweight” rating and set a $575.00 target price for the company in a report on Thursday, January 2nd. Finally, BMO Capital Markets started coverage on BlackRock in a report on Monday, October 7th. They issued a “market perform” rating and a $547.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $534.80.
Shares of BLK stock traded up $0.92 on Friday, reaching $535.92. The company’s stock had a trading volume of 152,718 shares, compared to its average volume of 615,453. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.76. BlackRock, Inc. has a 12-month low of $401.80 and a 12-month high of $536.91. The company has a market capitalization of $80.01 billion, a P/E ratio of 19.90, a PEG ratio of 1.53 and a beta of 1.54. The stock’s 50 day simple moving average is $502.39 and its 200-day simple moving average is $464.74.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $8.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $7.69 by $0.65. BlackRock had a return on equity of 12.95% and a net margin of 29.31%. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter last year, the business posted $6.08 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. Research analysts expect that BlackRock, Inc. will post 27.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a $3.30 dividend. The ex-dividend date was Thursday, December 5th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.46%. BlackRock’s dividend payout ratio (DPR) is presently 49.02%.
In other news, insider Jerkovic Milan 3,000,000 shares of the stock in a transaction dated Thursday, October 24th. Also, CEO Laurence Fink sold 100 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $457.02, for a total value of $45,702.00. The disclosure for this sale can be found here. Company insiders own 1.42% of the company’s stock.
BlackRock Company 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.
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