Accurate Wealth Management LLC Purchases New Stake in BlackRock, Inc. (NYSE:BLK)

Accurate Wealth Management LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,053 shares of the asset manager’s stock, valued at approximately $1,007,000.

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new position in BlackRock in the 3rd quarter valued at about $26,000. Fairscale Capital LLC bought a new stake in shares of BlackRock during the second quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock in the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC increased its stake in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after purchasing an additional 20 shares during the period. Finally, Addison Advisors LLC lifted its holdings in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup raised their price target 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. TD Cowen boosted their price objective 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. Wells Fargo & Company lowered their target price on shares of BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays reduced their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $1,088.67.

Insider Activity

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction on Thursday, December 5th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated Friday, December 6th. The stock was 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 $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of NYSE:BLK opened at $962.75 on Wednesday. The firm has a 50 day simple moving average of $1,029.20 and a 200 day simple moving average of $943.81. The company has a market cap of $149.11 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.92 and a beta of 1.28. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.12%. BlackRock’s dividend payout ratio is presently 50.35%.

About BlackRock

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.