Concord Wealth Partners Buys 66 Shares of BlackRock, Inc. (NYSE:BLK)

Concord Wealth Partners boosted its position in BlackRock, Inc. (NYSE:BLK) by 10.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 723 shares of the asset manager’s stock after purchasing an additional 66 shares during the quarter. Concord Wealth Partners’ holdings in BlackRock were worth $741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in BlackRock in the 3rd quarter worth approximately $26,000. Atwood & Palmer Inc. bought a new stake in shares of BlackRock during the 4th quarter worth $36,000. Reston Wealth Management LLC purchased a new position in BlackRock in the third quarter worth $37,000. MFA Wealth Advisors LLC increased its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC purchased a new stake in BlackRock during the fourth quarter valued at about $39,000. 80.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BLK. Citigroup increased their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Barclays reduced their price objective on 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. UBS Group raised their price target on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company lifted their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Activity

In related news, Director Mark Wiedman sold 36,190 shares of BlackRock 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 approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock valued at $115,163,141 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of BLK opened at $1,075.83 on Friday. The company has a market cap of $166.63 billion, a price-to-earnings ratio of 25.62, a P/E/G 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. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22. The business’s fifty day simple moving average is $1,026.43 and its two-hundred day simple moving average is $962.18.

BlackRock (NYSE:BLK) last released 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 return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $9.66 EPS. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. Research analysts anticipate that BlackRock, Inc. will post 47.45 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. Shareholders of record on Friday, March 7th will be given a $5.21 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 1.94%. BlackRock’s dividend payout ratio is presently 48.57%.

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.