Atlas Legacy Advisors LLC Takes $624,000 Position in BlackRock, Inc. (NYSE:BLK)

Atlas Legacy Advisors LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 609 shares of the asset manager's stock, valued at approximately $624,000.

A number of other institutional investors also recently bought and sold shares of BLK. Fidelity D & D Bancorp Inc. lifted 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 worth $263,000 after buying an additional 10 shares in the last quarter. Princeton Global Asset Management LLC lifted its position in shares of BlackRock by 8.7% in the 4th 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 position in BlackRock by 0.8% during the fourth 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. Ballentine Partners LLC boosted its stake in BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager's stock valued at $3,251,000 after acquiring an additional 11 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager's stock worth $2,829,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the transaction, the director now owns 68,433 shares of the company's stock, valued at $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,190 shares of company stock worth $115,163,141 in the last 90 days. Company insiders own 0.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. UBS Group upped their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 21st. Citigroup lifted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Barclays cut their price target on BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating on the stock in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, BlackRock has an average rating of "Moderate Buy" and a consensus price target of $1,120.67.

BlackRock Stock Down 1.5 %

NYSE:BLK traded down $14.41 during midday trading on Friday, hitting $974.97. 1,253,611 shares of the company were exchanged, compared to its average volume of 821,976. 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 fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The company has a market capitalization of $151.00 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.89 and a beta of 1.28. The company has a fifty day simple moving average of $1,013.24 and a 200 day simple moving average of $976.04.

BlackRock (NYSE:BLK - Get Free Report) 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 quarter last year, the business posted $9.66 EPS. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from BlackRock's previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock's payout ratio is presently 48.57%.

BlackRock 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.