Luts & Greenleigh Group Inc. Purchases 19 Shares of BlackRock, Inc. (NYSE:BLK)

Luts & Greenleigh Group Inc. increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 350 shares of the asset manager’s stock after purchasing an additional 19 shares during the quarter. Luts & Greenleigh Group Inc.’s holdings in BlackRock were worth $359,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BLK. FSA Wealth Management LLC bought a new position in shares of BlackRock in the third quarter valued at approximately $26,000. Atwood & Palmer Inc. purchased a new position in shares of BlackRock in the 4th quarter worth about $36,000. Reston Wealth Management LLC purchased a new stake in BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC boosted 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 acquiring an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC purchased a new stake in shares of BlackRock during the 4th quarter worth approximately $39,000. 80.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

BLK has been the subject of several research reports. Wells Fargo & Company increased their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. TD Cowen lifted their price objective on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group upped their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup boosted their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Finally, Barclays cut their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

BlackRock stock opened at $1,011.87 on Wednesday. The business has a 50-day simple moving average of $1,025.85 and a 200 day simple moving average of $951.47. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The stock has a market cap of $156.72 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.82 and a beta of 1.28. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the business earned $9.66 earnings per share. BlackRock’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, research analysts forecast that BlackRock, Inc. will post 47.43 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. Investors of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.02%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Insider Activity at BlackRock

In other news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction 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. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

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.