Daymark Wealth Partners LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

22 Jan 2025, 16:32 by Danessa Lincoln · The Markets Daily

Daymark Wealth Partners LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 9,272 shares of the asset manager’s stock, valued at approximately $9,505,000.

Several other large investors also recently bought and sold shares of the stock. FSA Wealth Management LLC purchased a new stake in shares of BlackRock in the 3rd quarter valued at approximately $26,000. Atwood & Palmer Inc. purchased a new position in BlackRock in the fourth quarter valued at $36,000. Reston Wealth Management LLC purchased a new stake in BlackRock during the 3rd quarter worth about $37,000. MFA Wealth Advisors LLC increased its holdings in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC purchased a new stake in BlackRock during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 41,916 shares in the company, valued at $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. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLK. Keefe, Bruyette & Woods reduced 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. UBS Group raised their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday. StockNews.com began coverage on BlackRock in a report on Thursday, January 16th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup lifted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

Get Our Latest Analysis on BlackRock

BlackRock Trading Up 0.7 %

NYSE:BLK opened at $1,011.87 on Wednesday. The stock has a market capitalization of $156.72 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The stock has a fifty day moving average price of $1,025.85 and a two-hundred day moving average price of $951.47. 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 – Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping 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 firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the firm earned $9.66 earnings per share. The firm’s revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts anticipate that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal 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 issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.02%. BlackRock’s dividend payout ratio is presently 48.57%.

BlackRock Profile

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