Wellington Shields & Co. LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 22.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 624 shares of the asset manager’s stock after buying an additional 114 shares during the period. Wellington Shields & Co. LLC’s holdings in BlackRock were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in BLK. Kestra Private Wealth Services LLC bought a new position in shares of BlackRock during the 3rd quarter worth approximately $563,000. Usca Ria LLC lifted its position in shares of BlackRock by 12.1% during the 4th quarter. Usca Ria LLC now owns 1,189 shares of the asset manager’s stock worth $858,000 after buying an additional 128 shares during the period. Great Lakes Advisors LLC lifted its position in shares of BlackRock by 1.8% during the 4th quarter. Great Lakes Advisors LLC now owns 40,716 shares of the asset manager’s stock worth $29,378,000 after buying an additional 713 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in shares of BlackRock by 2.5% during the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 9,430 shares of the asset manager’s stock worth $6,804,000 after buying an additional 230 shares during the period. Finally, CWM LLC lifted its position in shares of BlackRock by 58.6% during the 4th quarter. CWM LLC now owns 1,562 shares of the asset manager’s stock worth $1,127,000 after buying an additional 577 shares during the period. Institutional investors own 79.10% of the company’s stock.
NYSE BLK traded down $5.84 during trading on Tuesday, reaching $697.30. 11,950 shares of the company’s stock were exchanged, compared to its average volume of 750,371. The business has a 50 day moving average price of $729.40 and a 200-day moving average price of $655.58. The stock has a market capitalization of $106.35 billion, a P/E ratio of 22.05, a PEG ratio of 1.88 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.01 and a quick ratio of 1.02. BlackRock, Inc. has a fifty-two week low of $323.98 and a fifty-two week high of $788.00.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 23rd. Stockholders of record on Friday, March 5th will be given a $4.13 dividend. This is an increase from BlackRock’s previous quarterly dividend of $3.63. The ex-dividend date of this dividend is Thursday, March 4th. This represents a $16.52 annualized dividend and a dividend yield of 2.37%. BlackRock’s dividend payout ratio is presently 42.93%.
In related news, Director Mark Wiedman sold 290 shares of the firm’s stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $698.71, for a total value of $202,625.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Robert L. Goldstein sold 1,775 shares of BlackRock stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $735.85, for a total transaction of $1,306,133.75. The disclosure for this sale can be found here. Insiders sold 40,887 shares of company stock worth $29,822,320 in the last ninety days. 1.42% of the stock is owned by company insiders.
BLK has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on BlackRock from $750.00 to $890.00 and gave the company an “overweight” rating in a report on Monday, January 11th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $835.00 to $838.00 and gave the company a “buy” rating in a report on Friday, January 15th. Wells Fargo & Company raised their price target on BlackRock from $700.00 to $805.00 and gave the company an “overweight” rating in a report on Wednesday, December 30th. Barclays raised their price target on BlackRock from $800.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, January 15th. Finally, BMO Capital Markets raised their price target on BlackRock from $709.00 to $715.00 and gave the company a “market perform” rating in a report on Friday, January 15th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $709.08.
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.
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