Cahaba Wealth Management Inc. Has $263,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Cahaba Wealth Management Inc. trimmed its position in BlackRock, Inc. (NYSE:BLKFree Report) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 324 shares of the asset manager’s stock after selling 21 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in BlackRock were worth $263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. West Tower Group LLC bought a new position in shares of BlackRock in the 2nd quarter valued at $27,000. LFA Lugano Financial Advisors SA grew its holdings in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock worth $30,000 after purchasing an additional 25 shares during the last quarter. Tyler Stone Wealth Management acquired a new position in shares of BlackRock in the second quarter valued at approximately $33,000. Exchange Traded Concepts LLC raised its holdings in BlackRock by 671.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC acquired a new stake in BlackRock during the 4th quarter worth approximately $40,000. Institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Rachel Lord sold 36,059 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $13,910,292.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated 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 transaction, the general counsel now directly 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 through the SEC website. Also, Director Rachel Lord sold 36,059 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was 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 directly owns 17,004 shares of the company’s stock, valued at $13,910,292.24. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock valued at $71,864,028 in the last 90 days. 1.06% of the stock is currently owned by corporate insiders.

BlackRock Stock Down 1.2 %

BLK stock traded down $10.18 during midday trading on Tuesday, reaching $816.59. 497,087 shares of the company’s stock traded hands, compared to its average volume of 595,517. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a market cap of $121.62 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.83 and a beta of 1.37. The firm’s fifty day moving average price is $807.15 and its 200-day moving average price is $745.77. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32.

BlackRock (NYSE:BLKGet Free Report) last posted its earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, topping the consensus estimate of $8.84 by $0.82. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm posted $8.93 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that BlackRock, Inc. will post 39.81 earnings per share for the current fiscal year.

BlackRock Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group upped their price target on shares of BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. BNP Paribas raised BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective for the company in a research report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. upped their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $789.67.

Read Our Latest Research Report on BlackRock

About BlackRock

(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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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