49 Wealth Management LLC Sells 16 Shares of BlackRock, Inc. (NYSE:BLK)

by · The Cerbat Gem

49 Wealth Management LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK – Free Report) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 250 shares of the asset manager’s stock after selling 16 shares during the period. 49 Wealth Management LLC’s holdings in BlackRock were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC bought a new stake in BlackRock during the fourth quarter worth approximately $205,000. Novem Group bought a new stake in BlackRock during the fourth quarter worth approximately $545,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in BlackRock by 14.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,365 shares of the asset manager’s stock worth $29,077,000 after purchasing an additional 3,572 shares during the period. Focus Partners Advisor Solutions LLC boosted its position in BlackRock by 282.3% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 3,097 shares of the asset manager’s stock worth $3,176,000 after purchasing an additional 2,287 shares during the period. Finally, Kolinsky Wealth Management LLC boosted its stake in BlackRock by 5.0% during the 4th quarter. Kolinsky Wealth Management LLC now owns 777 shares of the asset manager’s stock valued at $797,000 after purchasing an additional 37 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 2,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $852.01, for a total value of $1,704,020.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company’s stock, valued at approximately $56,261,628.34. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 12,430 shares of company stock valued at $11,237,249. Corporate insiders own 1.98% of the company’s stock.

BlackRock Price Performance

Shares of BLK stock opened at $969.56 on Friday. The stock has a 50 day moving average of $920.79 and a two-hundred day moving average of $978.04. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12 month low of $752.30 and a 12 month high of $1,084.22. The company has a market capitalization of $150.21 billion, a P/E ratio of 23.08, a P/E/G ratio of 1.90 and a beta of 1.41.

BlackRock (NYSE:BLK – Get Free Report) last issued its earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the prior year, the firm posted $9.81 EPS. BlackRock’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.15%. BlackRock’s payout ratio is presently 50.63%.

Analyst Ratings Changes

BLK has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. UBS Group decreased their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Bank of America decreased their target price on BlackRock from $1,196.00 to $1,178.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. TD Cowen decreased their target price on BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley decreased their target price on BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average price target of $1,077.08.

Read Our Latest Stock Analysis on BLK

BlackRock Company Profile

(Free Report)

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.

Further Reading

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 – Free Report).