BlackRock, Inc. (NYSE:BLK) Holdings Raised by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its stake in BlackRock, Inc. (NYSE:BLK) by 16.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,592 shares of the asset manager’s stock after buying an additional 363 shares during the period. Axxcess Wealth Management LLC’s holdings in BlackRock were worth $2,657,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fidelity D & D Bancorp Inc. boosted its holdings in shares of BlackRock by 3.7% in the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after acquiring an additional 10 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in BlackRock by 8.7% in the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after purchasing an additional 10 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in 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 valued at $1,311,000 after purchasing an additional 10 shares in the last quarter. Legacy Capital Group California Inc. raised its stake in shares of BlackRock by 2.8% in the 4th quarter. Legacy Capital Group California Inc. now owns 368 shares of the asset manager’s stock worth $377,000 after buying an additional 10 shares in the last quarter. Finally, Studio Investment Management LLC raised its stake in shares of BlackRock by 0.4% in the 3rd quarter. Studio Investment Management LLC now owns 3,076 shares of the asset manager’s stock worth $2,921,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analysts Set New Price Targets

BLK has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Morgan Stanley increased their target price on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. StockNews.com began coverage on shares of BlackRock in a research report on Thursday, March 13th. They issued a “hold” rating on the stock. Finally, Citigroup increased their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 430 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the transaction, the director now directly owns 3,720 shares of the company’s stock, valued at $3,531,656.40. This represents a 10.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is owned by insiders.

BlackRock Stock Down 0.1 %

NYSE:BLK opened at $957.17 on Wednesday. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22. The firm has a market capitalization of $148.60 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.90 and a beta of 1.28. 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 business’s fifty day moving average price is $982.08 and its 200 day moving average price is $987.81.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the firm earned $9.66 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share 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 issued a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, March 7th. BlackRock’s payout ratio is currently 49.62%.

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.