50 Shares in BlackRock, Inc. (NYSE:BLK) Purchased by Cedar Mountain Advisors LLC

Cedar Mountain Advisors LLC acquired a new stake in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 50 shares of the asset manager’s stock, valued at approximately $51,000.

A number of other hedge funds have also modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of BlackRock by 176.9% in the 2nd quarter. AQR Capital Management LLC now owns 78,797 shares of the asset manager’s stock worth $62,026,000 after purchasing an additional 50,342 shares during the last quarter. MBB Public Markets I LLC grew its stake in BlackRock by 1,880.2% during the second quarter. MBB Public Markets I LLC now owns 10,614 shares of the asset manager’s stock worth $8,357,000 after buying an additional 10,078 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of BlackRock by 4.5% during the second quarter. Mackenzie Financial Corp now owns 114,596 shares of the asset manager’s stock worth $90,224,000 after buying an additional 4,917 shares in the last quarter. Legal & General Group Plc raised its stake in shares of BlackRock by 1.9% in the second quarter. Legal & General Group Plc now owns 1,197,274 shares of the asset manager’s stock valued at $942,640,000 after acquiring an additional 22,311 shares during the last quarter. Finally, Ninepoint Partners LP acquired a new position in shares of BlackRock in the 2nd quarter worth approximately $716,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. This represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated 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 sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 100,190 shares of company stock worth $104,436,741. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BLK shares. UBS Group lifted their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday. StockNews.com began coverage on shares of BlackRock in a research report on Friday. They set a “hold” rating on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Citigroup upped their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Trading Up 0.2 %

NYSE BLK opened at $1,020.19 on Friday. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The stock has a 50-day simple moving average of $1,024.23 and a 200 day simple moving average of $953.90. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $158.01 billion, a PE ratio of 24.29, a P/E/G ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the company posted $9.66 EPS. BlackRock’s revenue for the quarter was up 22.6% on a year-over-year basis. Research analysts forecast that BlackRock, Inc. will post 47.43 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio 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.