Lmcg Investments LLC Purchases Shares of 675 BlackRock, Inc. (NYSE:BLK)

Lmcg Investments LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 675 shares of the asset manager’s stock, valued at approximately $692,000.

A number of other hedge funds also recently made changes to their positions in the stock. FSA Wealth Management LLC purchased a new position in BlackRock during the third quarter valued at approximately $26,000. Atwood & Palmer Inc. bought a new stake in shares of BlackRock during the 4th quarter valued at $36,000. Reston Wealth Management LLC purchased a new position in shares of BlackRock during the 3rd quarter valued at $37,000. MFA Wealth Advisors LLC boosted its holdings in BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the period. Finally, West Financial Advisors LLC purchased a new stake in BlackRock in the 4th quarter worth $39,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BLK shares. TD Cowen increased their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI lifted 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 report on Thursday, November 7th. Keefe, Bruyette & Woods dropped their target price 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. Barclays reduced their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, BlackRock presently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Transactions at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the firm’s 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 owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.7 %

Shares of NYSE:BLK opened at $1,011.87 on Wednesday. The company has a 50-day moving average price of $1,026.34 and a 200 day moving average price of $949.91. 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 $745.55 and a 12 month high of $1,082.45. The company has a market cap 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 (NYSE:BLK) last announced its earnings results 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 return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business earned $9.66 EPS. The company’s quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities research analysts predict that BlackRock, Inc. will post 47.23 earnings per share for the current year.

BlackRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio is currently 48.57%.

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.