Jamison Private Wealth Management Inc. Boosts Stake in BlackRock, Inc. (NYSE:BLK)

Jamison Private Wealth Management Inc. increased its stake in BlackRock, Inc. (NYSE:BLK) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 5,560 shares of the asset manager’s stock after buying an additional 99 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in BlackRock were worth $5,700,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of BlackRock by 0.7% during the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after purchasing an additional 42,757 shares during the last quarter. Geode Capital Management LLC boosted its stake in BlackRock by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after buying an additional 30,182 shares in the last quarter. FMR LLC grew its position in BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after acquiring an additional 226,135 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after acquiring an additional 40,865 shares in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of BlackRock by 89,389.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s 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 transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,190 shares of company stock valued at $104,436,741 in the last three months. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup lifted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. JPMorgan Chase & Co. boosted their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com initiated coverage on BlackRock in a research report on Friday. They issued a “hold” rating for the company. Finally, Barclays decreased their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

BLK stock opened at $1,020.19 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The firm has a 50-day moving average of $1,024.23 and a 200 day moving average of $953.90. The company has a market cap of $158.01 billion, a P/E ratio of 24.29, a PEG ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $9.66 EPS. On average, sell-side analysts forecast that BlackRock, Inc. will post 47.43 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were paid a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. BlackRock’s payout ratio is 48.57%.

About BlackRock

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.