BlackRock, Inc. (NYSE:BLK) Stake Raised by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,146 shares of the asset manager’s stock after buying an additional 208 shares during the period. Daymark Wealth Partners LLC’s holdings in BlackRock were worth $7,425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Holderness Investments Co. lifted its position in BlackRock by 2.6% during the 2nd quarter. Holderness Investments Co. now owns 602 shares of the asset manager’s stock worth $416,000 after acquiring an additional 15 shares during the last quarter. Seaport Global Advisors LLC raised its position in shares of BlackRock by 4.7% during the fourth quarter. Seaport Global Advisors LLC now owns 353 shares of the asset manager’s stock valued at $250,000 after buying an additional 16 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of BlackRock by 0.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,733 shares of the asset manager’s stock valued at $2,646,000 after buying an additional 16 shares during the last quarter. CRA Financial Services LLC raised its position in shares of BlackRock by 4.3% during the third quarter. CRA Financial Services LLC now owns 385 shares of the asset manager’s stock valued at $249,000 after buying an additional 16 shares during the last quarter. Finally, Putnam Investments LLC raised its position in shares of BlackRock by 3.2% during the first quarter. Putnam Investments LLC now owns 545 shares of the asset manager’s stock valued at $365,000 after buying an additional 17 shares during the last quarter. Institutional investors own 77.01% of the company’s stock.

BlackRock Price Performance

BLK opened at $802.52 on Friday. BlackRock, Inc. has a one year low of $596.18 and a one year high of $845.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.48 and a quick ratio of 3.48. The company’s 50 day simple moving average is $801.08 and its 200-day simple moving average is $735.84. The stock has a market capitalization of $119.53 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.82 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, beating the consensus estimate of $8.84 by $0.82. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the firm earned $8.93 earnings per share. BlackRock’s revenue was up 6.8% compared to the same quarter last year. Sell-side analysts anticipate that BlackRock, Inc. will post 39.73 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Thursday, March 7th will be issued a $5.10 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.00. This represents a $20.40 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, March 6th. BlackRock’s dividend payout ratio is currently 55.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BLK. The Goldman Sachs Group upped their price objective on shares of BlackRock from $719.00 to $793.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group upped their target price on shares of BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. cut shares of BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price on the stock. in a research note on Friday, December 15th. Finally, BNP Paribas raised shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 target price on the stock in a research note on Tuesday, December 12th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $785.73.

Read Our Latest Stock Analysis on BLK

Insider Activity at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $809.92, for a total value of $25,089,701.76. Following the transaction, the chief executive officer now directly owns 414,146 shares in the company, valued at $335,425,128.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BlackRock news, CFO Martin Small sold 7,036 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $786.36, for a total value of $5,532,828.96. Following the sale, the chief financial officer now directly owns 5,259 shares in the company, valued at $4,135,467.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total transaction of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares in the company, valued at $335,425,128.32. The disclosure for this sale can be found here. Insiders have sold 100,511 shares of company stock worth $71,864,028 over the last ninety days. Company insiders own 0.96% of the company’s stock.

About BlackRock

(Free Report)

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.

See Also

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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