Axxcess Wealth Management LLC Buys 363 Shares of BlackRock, Inc. (NYSE:BLK)

Axxcess Wealth Management LLC raised its stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,592 shares of the asset manager's stock after purchasing 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.

Several other large investors have also bought and sold shares of BLK. United Bank raised its position in BlackRock by 1.1% during the 3rd quarter. United Bank now owns 1,121 shares of the asset manager's stock worth $1,064,000 after purchasing an additional 12 shares during the last quarter. GSA Capital Partners LLP bought a new position in BlackRock during the 3rd quarter worth $334,000. Empowered Funds LLC raised its position in BlackRock by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 2,713 shares of the asset manager's stock worth $2,576,000 after purchasing an additional 228 shares during the last quarter. GLOBALT Investments LLC GA raised its position in BlackRock by 3.2% during the 3rd quarter. GLOBALT Investments LLC GA now owns 1,121 shares of the asset manager's stock worth $1,064,000 after purchasing an additional 35 shares during the last quarter. Finally, Lindenwold Advisors INC raised its position in shares of BlackRock by 0.7% in the 3rd quarter. Lindenwold Advisors INC now owns 2,805 shares of the asset manager's stock worth $2,663,000 after acquiring an additional 20 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.4 %

BLK stock traded down $3.74 during mid-day trading on Friday, reaching $950.43. 5,211,645 shares of the company traded hands, compared to its average volume of 628,344. The stock has a market cap of $147.56 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.90 and a beta of 1.28. The company has a quick ratio of 5.23, a current 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 firm's 50 day moving average price is $980.77 and its 200 day moving average price is $987.70.

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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, beating analysts' consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.66 EPS. As a group, equities research analysts predict that BlackRock, Inc. will post 47.41 EPS 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 paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock's previous quarterly dividend of $5.10. BlackRock's payout ratio is presently 49.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BLK shares. Wells Fargo & Company lifted their price objective 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. Morgan Stanley lifted their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. StockNews.com started coverage on BlackRock in a research report on Friday. They issued a "hold" rating for the company. Finally, Barclays lowered their price objective on BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, BlackRock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,120.67.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the business's stock in a transaction that occurred on 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 owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 20,430 shares of company stock worth $21,234,629 in the last 90 days. Insiders own 0.90% of the company's stock.

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.