Angeles Investment Advisors LLC Invests $605,000 in BlackRock, Inc. (NYSE:BLK)

Angeles Investment Advisors LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 590 shares of the asset manager’s stock, valued at approximately $605,000.

Several other institutional investors and hedge funds have also made changes to their positions in BLK. Proficio Capital Partners LLC boosted its position in shares of BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after acquiring an additional 633,779 shares in the last quarter. Amundi acquired a new stake in shares of BlackRock in the 4th quarter valued at about $528,792,000. Montrusco Bolton Investments Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at about $343,976,000. Assenagon Asset Management S.A. acquired a new stake in shares of BlackRock in the 4th quarter valued at about $330,662,000. Finally, National Pension Service acquired a new stake in shares of BlackRock in the 4th quarter valued at about $322,097,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wells Fargo & Company upped their target price on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley upped their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group upped their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Finally, Barclays reduced their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

Shares of BLK stock opened at $950.43 on Monday. The company has a market cap of $147.56 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. The stock has a 50 day simple moving average of $980.77 and a 200-day simple moving average of $989.13. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. 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 (NYSE:BLK) last issued its earnings results 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. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $9.66 EPS. On average, equities analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $5.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.19%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is currently 49.62%.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the sale, the director now owns 68,433 shares in the company, valued at $73,403,973.12. This represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 20,430 shares of company stock worth $21,234,629 in the last quarter. Company insiders own 0.90% of the company’s stock.

BlackRock 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.