BlackRock, Inc. (NYSE:BLK) Shares Sold by Crewe Advisors LLC

Crewe Advisors LLC reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 66.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 67 shares of the asset manager’s stock after selling 133 shares during the quarter. Crewe Advisors LLC’s holdings in BlackRock were worth $68,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BLK. FSA Wealth Management LLC acquired a new position in BlackRock during the 3rd quarter worth $26,000. Atwood & Palmer Inc. bought a new position in shares of BlackRock in the 4th quarter worth about $36,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the 3rd quarter worth about $37,000. MFA Wealth Advisors LLC lifted its position in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after buying an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC bought a new position in shares of BlackRock in the 4th quarter worth about $39,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock valued at $115,163,141 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BLK shares. Evercore ISI raised their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. TD Cowen raised their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group raised their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Morgan Stanley lifted their price objective 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. Finally, Keefe, Bruyette & Woods cut their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

Shares of BLK opened at $1,005.99 on Friday. The firm’s 50 day moving average is $1,025.82 and its 200-day moving average is $966.82. The stock has a market capitalization of $155.81 billion, a P/E ratio of 23.95, a P/E/G ratio of 2.06 and a beta of 1.28. 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 12-month low of $745.55 and a 12-month high of $1,084.22.

BlackRock (NYSE:BLK) last released 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 business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period last year, the firm posted $9.66 earnings per share. Equities research analysts anticipate that BlackRock, Inc. will post 47.45 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a $5.21 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is 48.57%.

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.