Graypoint LLC Decreases Holdings in BlackRock, Inc. (NYSE:BLK)

Graypoint LLC trimmed its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,418 shares of the asset manager’s stock after selling 55 shares during the period. Graypoint LLC’s holdings in BlackRock were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Jacobs & Co. CA purchased a new stake in shares of BlackRock in the 4th quarter valued at about $202,000. LVM Capital Management Ltd. MI purchased a new stake in shares of BlackRock in the 4th quarter valued at about $220,000. Harbor Capital Advisors Inc. lifted its holdings in shares of BlackRock by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 3,052 shares of the asset manager’s stock valued at $3,129,000 after purchasing an additional 73 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of BlackRock by 0.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 32,122 shares of the asset manager’s stock valued at $30,502,000 after purchasing an additional 177 shares during the last quarter. Finally, ORG Partners LLC lifted its holdings in shares of BlackRock by 156.6% in the 4th quarter. ORG Partners LLC now owns 213 shares of the asset manager’s stock valued at $219,000 after purchasing an additional 130 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

NYSE BLK opened at $955.50 on Friday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $1,030.97 and its two-hundred day moving average is $939.26. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,082.45. The stock has a market capitalization of $147.99 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.92 and a beta of 1.28.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.91 EPS. Research analysts expect that BlackRock, Inc. will post 43.18 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BLK. The Goldman Sachs Group boosted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Evercore ISI boosted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company dropped their price target on BlackRock from $1,200.00 to $1,155.00 and set an “overweight” rating on the stock in a research report on Tuesday. StockNews.com assumed coverage on BlackRock in a research report on Wednesday. They issued a “hold” rating on the stock. Finally, Morgan Stanley boosted their price target on BlackRock from $1,245.00 to $1,261.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,070.08.

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.