Tritonpoint Wealth LLC Reduces Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Tritonpoint Wealth LLC decreased its position in BlackRock, Inc. (NYSE:BLK) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,434 shares of the asset manager’s stock after selling 75 shares during the period. Tritonpoint Wealth LLC’s holdings in BlackRock were worth $5,570,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in BlackRock by 3.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,145 shares of the asset manager’s stock valued at $4,249,000 after acquiring an additional 156 shares during the period. Costello Asset Management INC bought a new stake in BlackRock during the 4th quarter valued at $67,000. AJ Advisors LLC raised its holdings in BlackRock by 17.6% during the 4th quarter. AJ Advisors LLC now owns 441 shares of the asset manager’s stock valued at $452,000 after acquiring an additional 66 shares during the period. Concord Wealth Partners raised its holdings in BlackRock by 10.0% during the 4th quarter. Concord Wealth Partners now owns 723 shares of the asset manager’s stock valued at $741,000 after acquiring an additional 66 shares during the period. Finally, Concord Asset Management LLC VA raised its holdings in BlackRock by 18.4% during the 4th quarter. Concord Asset Management LLC VA now owns 547 shares of the asset manager’s stock valued at $561,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock 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 transaction of $10,726,400.00. Following the sale, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock valued at $115,163,141 over the last ninety days. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup upped their price target 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. 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, January 14th. Finally, Wells Fargo & Company upped their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Stock Up 0.4 %

Shares of NYSE:BLK opened at $1,075.83 on Friday. The stock’s 50-day moving average price is $1,026.43 and its 200-day moving average price is $962.18. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The stock has a market capitalization of $166.63 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. 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 posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $9.66 earnings per share. On average, equities analysts anticipate that BlackRock, Inc. will post 47.45 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a $5.21 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 1.94%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

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.