CX Institutional Acquires 17 Shares of BlackRock, Inc. (NYSE:BLK)

CX Institutional increased its stake in BlackRock, Inc. (NYSE:BLK) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 442 shares of the asset manager’s stock after purchasing an additional 17 shares during the period. CX Institutional’s holdings in BlackRock were worth $453,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Oddo BHF Asset Management Sas bought a new stake in shares of BlackRock during the 3rd quarter worth $518,000. Erste Asset Management GmbH purchased a new stake in shares of BlackRock in the 3rd quarter valued at $32,904,000. Raymond James Trust N.A. grew its holdings in shares of BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after purchasing an additional 614 shares during the last quarter. MML Investors Services LLC raised its position in BlackRock by 2.8% in the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after purchasing an additional 1,852 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its stake in BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after purchasing an additional 565 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

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

BlackRock Stock Up 0.2 %

BLK stock opened at $1,020.19 on Friday. The company has a market capitalization 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. The business’s 50 day moving average price is $1,024.23 and its two-hundred day moving average price is $953.90. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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 business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the company 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, analysts forecast that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is currently 48.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BLK shares. The Goldman Sachs Group lifted their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Citigroup boosted their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Morgan Stanley raised their target price 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. TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Evercore ISI upped their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

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.