Congress Wealth Management LLC DE Has $837,000 Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Congress Wealth Management LLC DE lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 35.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 816 shares of the asset manager’s stock after purchasing an additional 213 shares during the quarter. Congress Wealth Management LLC DE’s holdings in BlackRock were worth $837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Proficio Capital Partners LLC increased its position in BlackRock by 138,682.5% during the fourth quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager’s stock worth $634,000 after buying an additional 633,779 shares during the last quarter. Amundi bought a new stake in shares of BlackRock during the 4th quarter worth about $528,792,000. Montrusco Bolton Investments Inc. acquired a new position in shares of BlackRock during the 4th quarter valued at about $343,976,000. Assenagon Asset Management S.A. bought a new position in shares of BlackRock in the 4th quarter valued at approximately $330,662,000. Finally, National Pension Service acquired a new stake in BlackRock in the 4th quarter worth approximately $322,097,000. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. This represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods cut their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Barclays lowered their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. UBS Group boosted their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Finally, Citigroup raised their target price on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Price Performance

Shares of NYSE:BLK opened at $968.46 on Friday. The business’s 50 day moving average is $979.80 and its 200-day moving average is $990.21. 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 has a market capitalization of $150.36 billion, a PE ratio of 23.06, a PEG ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK) last announced its quarterly 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 net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.66 EPS. Sell-side analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were paid a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date was Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is currently 49.62%.

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.