Boston Financial Mangement LLC Buys 241 Shares of BlackRock, Inc. (NYSE:BLK)

Boston Financial Mangement LLC grew its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,915 shares of the asset manager’s stock after acquiring an additional 241 shares during the quarter. Boston Financial Mangement LLC’s holdings in BlackRock were worth $10,164,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Pathway Financial Advisers LLC grew its stake in BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after acquiring an additional 791,874 shares during the period. Montrusco Bolton Investments Inc. acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $343,976,000. Assenagon Asset Management S.A. bought a new position in BlackRock in the fourth quarter valued at approximately $330,662,000. Finally, FMR LLC raised its position in BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after purchasing an additional 226,135 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock valued at $115,163,141 over the last ninety days. 0.90% of the stock is owned by company insiders.

BlackRock Stock Up 0.9 %

NYSE:BLK opened at $987.08 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The firm’s 50 day simple moving average is $1,014.60 and its 200 day simple moving average is $975.94. The company has a market cap of $152.88 billion, a PE ratio of 23.50, a P/E/G ratio of 1.87 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly 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. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.66 earnings per share. On average, research analysts anticipate that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is 48.57%.

Analysts Set New Price Targets

BLK has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group raised 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. JPMorgan Chase & Co. lifted their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Citigroup increased their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Evercore ISI lifted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

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.