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

FLC Capital Advisors acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 266 shares of the asset manager’s stock, valued at approximately $216,000.

A number of other hedge funds also recently made changes to their positions in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of BlackRock by 1.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after purchasing an additional 21 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of BlackRock by 47,042.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 33,000 shares of the asset manager’s stock worth $22,808,000 after purchasing an additional 32,930 shares during the period. Sara Bay Financial bought a new position in shares of BlackRock during the fourth quarter worth approximately $387,000. Aspen Grove Capital LLC bought a new position in BlackRock during the 2nd quarter worth $208,000. Finally, BKM Wealth Management LLC bought a new position in BlackRock during the 4th quarter worth $2,758,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BlackRock

In related news, General Counsel Christopher J. Meade sold 18,000 shares of the business’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 sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at approximately $3,366,142.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Rachel Lord sold 36,059 shares of the business’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 transaction, 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 Securities & Exchange Commission, which is available through this link. Also, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction that occurred on 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 owns 11,914 shares in the company, valued at approximately $3,366,142.24. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock valued at $71,864,028 in the last three months. Corporate insiders own 0.96% of the company’s stock.

BlackRock Trading Down 0.2 %

BLK traded down $1.42 during midday trading on Thursday, hitting $833.70. 526,668 shares of the company were exchanged, compared to its average volume of 599,765. The firm has a market capitalization of $124.17 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.80 and a beta of 1.37. BlackRock, Inc. has a 1-year low of $596.18 and a 1-year high of $845.00. The firm’s 50 day moving average price is $805.17 and its 200-day moving average price is $742.68. 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:BLK) last announced its quarterly earnings data on Friday, January 12th. The asset manager reported $9.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $0.82. The company had revenue of $4.63 billion for 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%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $8.93 EPS. As a group, equities analysts forecast that BlackRock, Inc. will post 39.81 EPS for the current fiscal year.

BlackRock Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on BLK shares. UBS Group raised their price objective on BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. lowered BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 price objective on the stock. in a research note on Friday, December 15th. BNP Paribas upgraded BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price target on the stock in a research note on Tuesday, December 12th. The Goldman Sachs Group lifted their price target on BlackRock from $719.00 to $793.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. Five 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 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.