Genesee Capital Advisors LLC Has $1.58 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Genesee Capital Advisors LLC trimmed its holdings in BlackRock, Inc. (NYSE:BLK) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,544 shares of the asset manager’s stock after selling 12 shares during the period. Genesee Capital Advisors LLC’s holdings in BlackRock were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in BlackRock during the 3rd quarter worth about $26,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock during the fourth quarter worth about $36,000. West Financial Advisors LLC bought a new stake in BlackRock in the 4th quarter valued at approximately $39,000. Reston Wealth Management LLC bought a new position in shares of BlackRock during the 3rd quarter worth approximately $37,000. Finally, MFA Wealth Advisors LLC lifted its position in shares of BlackRock by 100.0% in 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 in the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,051.91 on Wednesday. The business’s 50 day moving average is $1,023.82 and its 200-day moving average is $957.41. The firm has a market cap of $162.92 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. 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 announced its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company 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 posted $9.66 earnings per share. BlackRock’s quarterly revenue was up 22.6% on a year-over-year basis. Equities research analysts predict that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.94%. BlackRock’s payout ratio is 48.57%.

Insider Buying and Selling

In related news, Director Mark Wiedman sold 36,190 shares of BlackRock 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 of the company’s stock, valued at $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the sale, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. 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 100,190 shares of company stock valued at $104,436,741 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BLK has been the topic of several recent research reports. Barclays lowered 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 research note on Monday, January 13th. StockNews.com initiated coverage on BlackRock in a research report on Friday, January 24th. They set a “hold” rating for the company. JPMorgan Chase & Co. upped their price objective on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Citigroup raised their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, TD Cowen upped their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, BlackRock 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.