Legacy Wealth Asset Management LLC Acquires Shares of 882 BlackRock, Inc. (NYSE:BLK)

Legacy Wealth Asset Management LLC bought a new position in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 882 shares of the asset manager’s stock, valued at approximately $904,000.

A number of other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC boosted its position in shares of 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 valued at $993,312,000 after buying an additional 1,044,962 shares during the period. International Assets Investment Management LLC lifted its stake 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 last quarter. Assenagon Asset Management S.A. purchased a new position in BlackRock during the 4th quarter valued at $330,662,000. FMR LLC grew its position in BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after acquiring an additional 226,135 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in BlackRock in the third quarter worth $115,377,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BLK. JPMorgan Chase & Co. upped their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company raised their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com assumed coverage on BlackRock in a report on Thursday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus target price of $1,103.33.

Insider Activity at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Down 1.8 %

Shares of BlackRock stock opened at $995.02 on Friday. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45. The firm’s 50 day moving average price is $1,028.86 and its 200-day moving average price is $944.29. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $154.11 billion, a P/E ratio of 24.56, a PEG ratio of 1.53 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business posted $9.66 EPS. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, sell-side analysts predict that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were issued a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.05%. BlackRock’s dividend payout ratio (DPR) is currently 50.35%.

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.