BlackRock, Inc. (NYSE:BLK) Shares Sold by 1834 Investment Advisors Co.

1834 Investment Advisors Co. cut its holdings in BlackRock, Inc. (NYSE:BLK) by 6.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 658 shares of the asset manager’s stock after selling 46 shares during the period. 1834 Investment Advisors Co.’s holdings in BlackRock were worth $675,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of BLK. Crescent Grove Advisors LLC lifted its holdings in shares of BlackRock by 28.0% in the 4th quarter. Crescent Grove Advisors LLC now owns 384 shares of the asset manager’s stock worth $394,000 after purchasing an additional 84 shares during the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in shares of BlackRock by 1.8% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 5,560 shares of the asset manager’s stock valued at $5,700,000 after acquiring an additional 99 shares during the period. Blue Square Asset Management LLC acquired a new stake in shares of BlackRock in the 4th quarter worth about $3,243,000. First Citizens Bank & Trust Co. lifted its position in BlackRock by 2.4% in the 4th quarter. First Citizens Bank & Trust Co. now owns 3,532 shares of the asset manager’s stock valued at $3,621,000 after purchasing an additional 82 shares during the last quarter. Finally, Precedent Wealth Partners LLC acquired a new position in BlackRock during the 4th quarter valued at about $1,511,000. Institutional investors own 80.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price target on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays lowered their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Citigroup upped their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Activity

In related news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,190 shares of company stock worth $104,436,741 over the last 90 days. 0.90% of the stock is owned by company insiders.

BlackRock Trading Up 0.2 %

BlackRock stock opened at $1,020.19 on Friday. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The firm’s 50 day moving average price is $1,024.23 and its two-hundred day moving average price is $953.90. The firm has a market cap of $158.01 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the firm earned $9.66 earnings per share. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, research analysts predict that BlackRock, Inc. will post 47.43 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

BlackRock 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.