Mitchell & Pahl Private Wealth LLC Buys 92 Shares of BlackRock, Inc. (NYSE:BLK)

Mitchell & Pahl Private Wealth LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 3.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,706 shares of the asset manager’s stock after buying an additional 92 shares during the quarter. BlackRock accounts for 1.3% of Mitchell & Pahl Private Wealth LLC’s investment portfolio, making the stock its 15th largest holding. Mitchell & Pahl Private Wealth LLC’s holdings in BlackRock were worth $2,774,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Ballentine Partners LLC boosted its stake in shares of BlackRock by 8.4% during the 4th quarter. Ballentine Partners LLC now owns 3,710 shares of the asset manager’s stock worth $3,803,000 after purchasing an additional 286 shares during the period. Atwood & Palmer Inc. bought a new stake in BlackRock in the fourth quarter worth about $36,000. Regent Peak Wealth Advisors LLC purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $493,000. Amplius Wealth Advisors LLC bought a new position in shares of BlackRock during the fourth quarter valued at approximately $337,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of BlackRock in the fourth quarter worth approximately $7,433,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Keefe, Bruyette & Woods cut their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company raised their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,103.33.

BlackRock Trading Up 0.9 %

Shares of NYSE:BLK opened at $1,004.23 on Tuesday. The company has a market capitalization of $155.54 billion, a PE ratio of 24.78, a P/E/G ratio of 1.53 and a beta of 1.28. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,082.45. The business’s fifty day simple moving average is $1,027.33 and its 200-day simple moving average is $948.40.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the firm earned $9.66 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, equities research analysts predict that BlackRock, Inc. will post 43.02 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.03%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Insiders Place Their Bets

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

About BlackRock

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.