BlackRock, Inc. (NYSE:BLK) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC lowered its stake in shares of BlackRock, Inc. (NYSE:BLK) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,493 shares of the asset manager’s stock after selling 248 shares during the period. Bryn Mawr Capital Management LLC’s holdings in BlackRock were worth $10,756,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fidelity D & D Bancorp Inc. lifted its stake in shares of BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after buying an additional 10 shares during the period. Princeton Global Asset Management LLC raised its holdings in BlackRock by 8.7% in the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock valued at $128,000 after acquiring an additional 10 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of BlackRock by 0.8% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,279 shares of the asset manager’s stock worth $1,311,000 after purchasing an additional 10 shares during the period. Legacy Capital Group California Inc. boosted its holdings in shares of BlackRock by 2.8% during the fourth quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after purchasing an additional 10 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of BlackRock by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after purchasing an additional 11 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the 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 transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,190 shares of company stock worth $115,163,141. Insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

BlackRock stock opened at $958.29 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm’s fifty day moving average price is $1,007.50 and its 200 day moving average price is $980.38. The company has a market capitalization of $148.42 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28. 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 quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the firm posted $9.66 earnings per share. The company’s revenue was up 22.6% compared to the same quarter last year. On average, research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. The ex-dividend date is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.17%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BLK shares. StockNews.com initiated coverage on BlackRock in a research note on Tuesday. They issued a “hold” rating on the stock. Barclays cut their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Keefe, Bruyette & Woods dropped their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Morgan Stanley boosted their price target on 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, Wells Fargo & Company raised their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

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.