Patriot Financial Group Insurance Agency LLC Grows Stake in BlackRock, Inc. (BLK)

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Patriot Financial Group Insurance Agency LLC grew its holdings in BlackRock, Inc. (NYSE:BLK) by 966.7% during the 4th quarter, Holdings Channel reports. The firm owned 192 shares of the asset manager’s stock after buying an additional 174 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in BlackRock were worth $75,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Ocean LLC boosted its position in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after acquiring an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $33,000. Legacy Financial Advisors Inc. boosted its position in BlackRock by 125.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock worth $35,000 after acquiring an additional 49 shares during the last quarter. Highwater Wealth Management LLC acquired a new stake in BlackRock during the fourth quarter worth approximately $41,000. Finally, Clean Yield Group acquired a new stake in BlackRock during the fourth quarter worth approximately $59,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Deutsche Bank downgraded shares of BlackRock from a “buy” rating to a “hold” rating and cut their price target for the stock from $444.00 to $405.00 in a research note on Thursday, January 10th. Citigroup cut their price target on shares of BlackRock to $500.00 and set a “buy” rating on the stock in a research note on Wednesday, October 17th. ValuEngine raised shares of BlackRock from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, Goldman Sachs Group downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $503.03.

In related news, Director Jeff A. Smith sold 2,250 shares of the firm’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $415.78, for a total transaction of $935,505.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider J. Richard Kushel sold 3,077 shares of the firm’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $409.29, for a total transaction of $1,259,385.33. The disclosure for this sale can be found here. In the last three months, insiders sold 86,929 shares of company stock worth $36,214,650. Insiders own 1.75% of the company’s stock.

Shares of BLK stock opened at $412.70 on Tuesday. BlackRock, Inc. has a 52 week low of $360.79 and a 52 week high of $578.80. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $64.94 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 16th. The asset manager reported $6.08 EPS for the quarter, missing the Zacks’ consensus estimate of $6.35 by ($0.27). BlackRock had a net margin of 30.32% and a return on equity of 13.53%. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the business posted $6.24 EPS. The business’s revenue was down 8.8% on a year-over-year basis. On average, equities analysts expect that BlackRock, Inc. will post 25.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Tuesday, March 5th. This is an increase from BlackRock’s previous quarterly dividend of $3.13. BlackRock’s dividend payout ratio (DPR) is currently 46.49%.

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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.

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Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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