Relyea Zuckerberg Hanson LLC Purchases 449 Shares of BlackRock, Inc. (NYSE:BLK)

Relyea Zuckerberg Hanson LLC grew its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 115.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 838 shares of the asset manager’s stock after acquiring an additional 449 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in BlackRock were worth $859,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. FSA Wealth Management LLC bought a new stake in BlackRock in the third quarter worth approximately $26,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the 2nd quarter valued at $31,000. Reston Wealth Management LLC bought a new position in BlackRock during the third quarter worth $37,000. MFA Wealth Advisors LLC increased its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. Finally, West Financial Advisors LLC acquired a new position in shares of BlackRock during the fourth quarter valued at about $39,000. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated 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 transaction, the director now directly 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 disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

BlackRock Stock Performance

Shares of BLK traded up $13.54 on Friday, reaching $1,009.26. 168,207 shares of the company’s stock traded hands, compared to its average volume of 761,451. The stock’s 50 day simple moving average is $1,028.86 and its two-hundred day simple moving average is $944.29. The stock has a market cap of $156.31 billion, a PE ratio of 24.88, a PEG ratio of 1.53 and a beta of 1.28. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

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

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders 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 2.02%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

Analysts Set New Price Targets

BLK has been the subject of a number of research analyst reports. TD Cowen boosted their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays decreased their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday. Evercore ISI lifted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company boosted 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. Three 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 company presently has an average rating of “Moderate Buy” and an average price target of $1,103.33.

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.