Phillips Wealth Planners LLC Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Phillips Wealth Planners LLC bought a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, Holdings Channel reports. The institutional investor bought 790 shares of the asset manager’s stock, valued at approximately $755,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BLK. Oddo BHF Asset Management Sas purchased a new position in shares of BlackRock during the 3rd quarter worth $518,000. Erste Asset Management GmbH purchased a new position in shares of BlackRock during the 3rd quarter worth $32,904,000. Raymond James Trust N.A. grew its holdings in shares of BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after purchasing an additional 614 shares during the period. MML Investors Services LLC grew its holdings in shares of BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after purchasing an additional 1,852 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of BlackRock by 20.4% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after purchasing an additional 565 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the business’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 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 approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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 disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

BlackRock Price Performance

BLK stock opened at $1,006.61 on Thursday. The business has a 50 day moving average price of $1,025.85 and a 200 day moving average price of $951.47. The stock has a market cap of $155.90 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. 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 earnings results 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. The firm 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 was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.66 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BLK shares. The Goldman Sachs Group increased their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Evercore ISI raised their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. StockNews.com started coverage on BlackRock in a research report on Thursday, January 16th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Company 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.