MADDEN SECURITIES Corp Invests $71,000 in BlackRock, Inc. (NYSE:BLK)

MADDEN SECURITIES Corp acquired a new position in BlackRock, Inc. (NYSE:BLK – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 100 shares of the asset manager’s stock, valued at approximately $71,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BLK. Wagner Wealth Management LLC acquired a new stake in shares of BlackRock in the second quarter worth $25,000. Salem Investment Counselors Inc. grew its position in BlackRock by 275.0% during the third quarter. Salem Investment Counselors Inc. now owns 45 shares of the asset manager’s stock valued at $25,000 after buying an additional 33 shares during the period. Penserra Capital Management LLC grew its position in BlackRock by 78.6% during the third quarter. Penserra Capital Management LLC now owns 50 shares of the asset manager’s stock valued at $27,000 after buying an additional 22 shares during the period. Align Wealth Management LLC acquired a new stake in BlackRock during the fourth quarter valued at $28,000. Finally, Twin Tree Management LP acquired a new stake in BlackRock during the third quarter valued at $29,000. Institutional investors and hedge funds own 77.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on BLK shares. StockNews.com started coverage on shares of BlackRock in a report on Thursday. They set a “hold” rating on the stock. Morgan Stanley increased their price objective on shares of BlackRock from $785.00 to $828.00 and gave the company an “overweight” rating in a report on Tuesday, January 17th. Bank of America decreased their price objective on shares of BlackRock from $821.00 to $813.00 in a report on Sunday, January 15th. Wells Fargo & Company started coverage on shares of BlackRock in a report on Wednesday, December 14th. They set an “overweight” rating and a $820.00 price objective on the stock. Finally, Credit Suisse Group increased their price objective on shares of BlackRock from $540.00 to $680.00 and gave the company a “neutral” rating in a report on Thursday, January 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has a consensus rating of “Moderate Buy” and an average target price of $740.92.

Insider Buying and Selling at BlackRock

In other news, Director Stephen Cohen sold 390 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $756.26, for a total value of $294,941.40. Following the completion of the transaction, the director now owns 4,357 shares of the company’s stock, valued at $3,295,024.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director J. Richard Kushel sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $742.31, for a total transaction of $742,310.00. Following the completion of the transaction, the director now directly owns 74,307 shares of the company’s stock, valued at $55,158,829.17. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen Cohen sold 390 shares of BlackRock stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $756.26, for a total transaction of $294,941.40. Following the sale, the director now directly owns 4,357 shares of the company’s stock, valued at $3,295,024.82. The disclosure for this sale can be found here. Insiders sold a total of 4,839 shares of company stock valued at $3,578,947 in the last three months. 1.06% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of BlackRock stock opened at $636.71 on Friday. The firm has a market cap of $95.66 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.33. BlackRock, Inc. has a 52 week low of $503.12 and a 52 week high of $788.65. The business’s fifty day simple moving average is $714.75 and its 200-day simple moving average is $680.87.

BlackRock (NYSE:BLK – Get Rating) last posted its earnings results on Friday, January 13th. The asset manager reported $8.93 EPS for the quarter, beating analysts’ consensus estimates of $7.99 by $0.94. BlackRock had a net margin of 28.97% and a return on equity of 14.38%. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.16 billion. Equities analysts forecast that BlackRock, Inc. will post 34.84 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Tuesday, March 7th will be issued a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a yield of 3.14%. This is a boost from BlackRock’s previous quarterly dividend of $4.88. The ex-dividend date is Monday, March 6th. BlackRock’s dividend payout ratio (DPR) is 58.91%.

About BlackRock

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BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Susan L.