Cyndeo Wealth Partners LLC Invests $8.81 Million in BlackRock, Inc. (NYSE:BLK)

Cyndeo Wealth Partners LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, Holdings Channel.com reports. The firm bought 8,596 shares of the asset manager’s stock, valued at approximately $8,812,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas purchased a new position in shares of BlackRock in the third quarter valued at $518,000. Erste Asset Management GmbH purchased a new position in BlackRock in the 3rd quarter valued at about $32,904,000. Raymond James Trust N.A. grew its stake in shares of BlackRock by 2.3% during the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock valued at $25,724,000 after acquiring an additional 614 shares in the last quarter. MML Investors Services LLC increased its position in shares of BlackRock by 2.8% during the third quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock worth $65,010,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in shares of BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after acquiring an additional 565 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction dated 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 transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now owns 68,433 shares in the company, valued at $69,117,330. This trade represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,190 shares of company stock worth $104,436,741. 0.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com initiated coverage on BlackRock in a research note on Friday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays reduced their price objective 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. Citigroup boosted 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. Finally, The Goldman Sachs Group lifted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Stock Up 0.2 %

Shares of BlackRock stock opened at $1,020.19 on Friday. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The stock has a market capitalization of $158.01 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.82 and a beta of 1.28. 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 business’s 50 day simple moving average is $1,024.23 and its 200-day simple moving average is $953.90.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion for 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 quarterly revenue was up 22.6% compared to the same quarter last year. During the same period last year, the business posted $9.66 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) 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.