Silverlake Wealth Management LLC Has $284,000 Position in BlackRock, Inc. (NYSE:BLK)

Silverlake Wealth Management LLC cut its holdings in BlackRock, Inc. (NYSE:BLK) by 38.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 277 shares of the asset manager’s stock after selling 176 shares during the quarter. Silverlake Wealth Management LLC’s holdings in BlackRock were worth $284,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BLK. Marino Stram & Associates LLC raised its holdings in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after acquiring an additional 10 shares during the period. Fidelity D & D Bancorp Inc. raised its stake in shares of BlackRock by 3.7% in the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after purchasing an additional 10 shares during the period. Princeton Global Asset Management LLC lifted its holdings in shares of BlackRock by 8.7% in the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock valued at $128,000 after purchasing an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in shares of BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after buying an additional 11 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after buying an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLK has been the subject of several research reports. Morgan Stanley raised their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Barclays lowered their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Evercore ISI raised their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Transactions at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now directly 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. In the last 90 days, insiders sold 110,190 shares of company stock valued at $115,163,141. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.1 %

NYSE BLK opened at $1,014.43 on Thursday. The company has a market cap of $157.11 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.06 and a beta of 1.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. 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 company has a 50 day moving average of $1,025.92 and a 200-day moving average of $966.48.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the company posted $9.66 EPS. The company’s revenue was up 22.6% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post 47.45 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a $5.21 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

BlackRock Company 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.