Reliant Investment Management LLC Buys Shares of 4,497 BlackRock, Inc. (NYSE:BLK)

Reliant Investment Management LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,497 shares of the asset manager’s stock, valued at approximately $4,610,000. BlackRock makes up 2.0% of Reliant Investment Management LLC’s portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Mitchell & Pahl Private Wealth LLC grew its stake in BlackRock by 3.5% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 2,706 shares of the asset manager’s stock valued at $2,774,000 after acquiring an additional 92 shares in the last quarter. Ballentine Partners LLC grew its stake in BlackRock by 8.4% during the 4th quarter. Ballentine Partners LLC now owns 3,710 shares of the asset manager’s stock valued at $3,803,000 after acquiring an additional 286 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in BlackRock during the 4th quarter valued at about $36,000. Regent Peak Wealth Advisors LLC purchased a new position in BlackRock during the 4th quarter valued at about $493,000. Finally, Amplius Wealth Advisors LLC acquired a new stake in shares of BlackRock during the 4th quarter valued at about $337,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The stock was 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 $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BLK has been the subject of several research reports. Evercore ISI lifted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley boosted their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods reduced their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,103.33.

BlackRock Stock Up 0.9 %

Shares of BLK stock opened at $1,004.23 on Tuesday. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The firm has a market cap of $155.54 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.53 and a beta of 1.28. The stock has a 50 day moving average of $1,027.33 and a 200-day moving average of $948.40. 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 (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company earned $9.66 earnings per share. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, equities analysts predict that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio is presently 50.35%.

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.