Prestige Wealth Management Group LLC Purchases 64 Shares of BlackRock, Inc. (NYSE:BLK)

Prestige Wealth Management Group LLC boosted its holdings in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 7.8% during the 4th quarter, Holdings Channel reports. The fund owned 889 shares of the asset manager’s stock after buying an additional 64 shares during the period. Prestige Wealth Management Group LLC’s holdings in BlackRock were worth $722,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners purchased a new position in BlackRock in the fourth quarter valued at about $27,000. Private Wealth Management Group LLC purchased a new position in shares of BlackRock in the 4th quarter worth approximately $28,000. LFA Lugano Financial Advisors SA raised its stake in shares of BlackRock by 208.3% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after acquiring an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in BlackRock during the fourth quarter valued at approximately $32,000. Finally, Knuff & Co LLC boosted its stake in BlackRock by 48.1% in the fourth quarter. Knuff & Co LLC now owns 40 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

NYSE BLK traded up $4.51 during trading hours on Friday, reaching $812.22. The stock had a trading volume of 394,388 shares, compared to its average volume of 579,644. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The stock has a fifty day moving average of $792.31 and a 200 day moving average of $778.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. The stock has a market cap of $120.70 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm earned $7.93 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts predict that BlackRock, Inc. will post 41.31 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a $5.10 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $20.40 annualized dividend and a dividend yield of 2.51%. BlackRock’s dividend payout ratio (DPR) is presently 51.84%.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of recent analyst reports. UBS Group upped their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Morgan Stanley raised their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $845.42.

View Our Latest Analysis on BlackRock

Insider Transactions at BlackRock

In other BlackRock news, Director Rachel Lord sold 36,059 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the sale, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of BlackRock stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $5,151,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rachel Lord sold 36,059 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $818.06, for a total value of $29,498,425.54. Following the transaction, the director now owns 17,004 shares in the company, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold 76,037 shares of company stock worth $61,743,127 over the last quarter. 0.90% of the stock is currently owned by insiders.

BlackRock Company 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.

Further Reading

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)

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