BlackRock, Inc. (NYSE:BLK) Shares Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC boosted its stake in BlackRock, Inc. (NYSE:BLKFree Report) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,095 shares of the asset manager’s stock after acquiring an additional 161 shares during the quarter. Belpointe Asset Management LLC’s holdings in BlackRock were worth $1,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jump Financial LLC bought a new position in BlackRock during the third quarter worth $1,169,000. Avantax Advisory Services Inc. increased its holdings in shares of BlackRock by 5.6% during the third quarter. Avantax Advisory Services Inc. now owns 4,940 shares of the asset manager’s stock valued at $3,194,000 after purchasing an additional 262 shares during the period. PGGM Investments increased its holdings in shares of BlackRock by 16.9% during the third quarter. PGGM Investments now owns 690 shares of the asset manager’s stock valued at $446,000 after purchasing an additional 100 shares during the period. Banque Cantonale Vaudoise boosted its stake in BlackRock by 7.3% during the third quarter. Banque Cantonale Vaudoise now owns 1,994 shares of the asset manager’s stock valued at $1,288,000 after buying an additional 135 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in BlackRock by 4.9% during the third quarter. Spire Wealth Management now owns 2,597 shares of the asset manager’s stock valued at $1,679,000 after buying an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the completion of the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at $309,327,694.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,151,600. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

BLK stock traded up $8.33 during trading on Tuesday, hitting $785.70. The company had a trading volume of 666,436 shares, compared to its average volume of 616,192. The company has a fifty day moving average price of $783.60 and a two-hundred day moving average price of $788.41. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35. The company has a market cap of $116.76 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.59 and a beta of 1.34. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $9.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.42 by $0.39. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the company posted $7.93 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts expect that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.60%. BlackRock’s payout ratio is currently 51.84%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised their price target on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $930.00 price objective (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Finally, UBS Group lifted their price target on BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.42.

Read Our Latest Stock Report on BlackRock

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.

Further Reading

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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