Marcum Wealth LLC Has $1.07 Million Stake in BlackRock, Inc. (NYSE:BLK)

Marcum Wealth LLC increased its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,044 shares of the asset manager’s stock after acquiring an additional 18 shares during the quarter. Marcum Wealth LLC’s holdings in BlackRock were worth $1,070,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Oddo BHF Asset Management Sas bought a new stake in BlackRock in the 3rd quarter valued at about $518,000. Erste Asset Management GmbH acquired a new stake in BlackRock in the third quarter valued at approximately $32,904,000. Raymond James Trust N.A. increased its holdings in shares of BlackRock by 2.3% during the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after acquiring an additional 614 shares in the last quarter. MML Investors Services LLC raised its position in shares of BlackRock by 2.8% during the third quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after purchasing an additional 1,852 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in BlackRock by 20.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after purchasing an additional 565 shares during the period. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective 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. TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday. Citigroup upped their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,083.92.

BlackRock Stock Down 0.2 %

BlackRock stock opened at $954.19 on Tuesday. The firm has a 50 day moving average price of $1,030.22 and a 200-day moving average price of $942.57. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The company has a market capitalization of $147.78 billion, a P/E ratio of 23.55, a P/E/G ratio of 1.92 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same period last year, the business posted $10.91 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts predict that BlackRock, Inc. will post 43.18 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio is currently 50.35%.

Insider Buying and Selling at BlackRock

In other BlackRock 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 transaction of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s 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 transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. The trade was a 56.30 % 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 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.