Raleigh Capital Management Inc. Sells 44 Shares of BlackRock, Inc. (NYSE:BLK)

Raleigh Capital Management Inc. lowered its position in BlackRock, Inc. (NYSE:BLK) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 869 shares of the asset manager’s stock after selling 44 shares during the period. Raleigh Capital Management Inc.’s holdings in BlackRock were worth $890,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter valued at $26,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock in the fourth quarter valued at $36,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock during the third quarter valued at about $37,000. MFA Wealth Advisors LLC grew its holdings in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after buying an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new stake in shares of BlackRock in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.5 %

NYSE:BLK opened at $1,006.61 on Thursday. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $1,025.37 and its 200 day moving average is $951.85. The stock has a market capitalization of $155.90 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 1.83 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued 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 for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company posted $9.66 earnings per share. Sell-side analysts expect that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. BlackRock’s dividend payout ratio is presently 48.57%.

Insider Activity

In related news, Director Mark Wiedman sold 36,190 shares of the business’s 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 transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

BLK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Evercore ISI upped their price target on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company upped 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 note on Thursday, January 16th. Finally, UBS Group raised their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

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.