FLC Capital Advisors Invests $216,000 in BlackRock, Inc. (NYSE:BLK)

FLC Capital Advisors bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 266 shares of the asset manager’s stock, valued at approximately $216,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Everhart Financial Group Inc. raised its holdings in BlackRock by 3.2% in the 4th quarter. Everhart Financial Group Inc. now owns 450 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 14 shares in the last quarter. Holderness Investments Co. raised its holdings in shares of BlackRock by 2.6% in the 2nd quarter. Holderness Investments Co. now owns 602 shares of the asset manager’s stock worth $416,000 after buying an additional 15 shares in the last quarter. CRA Financial Services LLC raised its holdings in shares of BlackRock by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 385 shares of the asset manager’s stock worth $249,000 after buying an additional 16 shares in the last quarter. Seaport Global Advisors LLC increased its holdings in BlackRock by 4.7% during the 4th quarter. Seaport Global Advisors LLC now owns 353 shares of the asset manager’s stock valued at $250,000 after purchasing an additional 16 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in BlackRock by 0.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,733 shares of the asset manager’s stock valued at $2,646,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Price Performance

BLK traded down $1.42 during trading on Thursday, hitting $833.70. 526,668 shares of the stock traded hands, compared to its average volume of 599,765. The business has a 50 day moving average price of $805.17 and a 200 day moving average price of $742.68. The company has a market cap of $124.17 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.80 and a beta of 1.37. 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 twelve month low of $596.18 and a twelve month high of $845.00.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $0.82. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. BlackRock’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.93 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 39.81 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $20.40 dividend on an annualized basis and a yield of 2.45%. This is a boost from BlackRock’s previous quarterly dividend of $5.00. BlackRock’s dividend payout ratio is 55.88%.

Insider Buying and Selling at BlackRock

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the transaction, the general counsel now owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the sale, the general counsel now owns 11,914 shares in the company, valued at approximately $3,366,142.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rachel Lord sold 36,059 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $818.06, for a total transaction of $29,498,425.54. Following the completion of the sale, the director now owns 17,004 shares of the company’s stock, valued at approximately $13,910,292.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,511 shares of company stock valued at $71,864,028. 0.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BLK. JPMorgan Chase & Co. cut BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 price target for the company. in a report on Friday, December 15th. The Goldman Sachs Group increased their price objective on BlackRock from $719.00 to $793.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. UBS Group increased their price objective on BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. BNP Paribas upgraded BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a research report on Tuesday, December 12th. Finally, TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and an average target price of $785.73.

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.