NewEdge Advisors LLC Buys 2,789 Shares of BlackRock, Inc. (NYSE:BLK)

NewEdge Advisors LLC raised its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,217 shares of the asset manager's stock after purchasing an additional 2,789 shares during the quarter. NewEdge Advisors LLC's holdings in BlackRock were worth $69,929,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BLK. IAG Wealth Partners LLC bought a new position in shares of BlackRock in the 4th quarter valued at about $26,000. Collier Financial bought a new position in BlackRock in the fourth quarter valued at approximately $32,000. Compass Planning Associates Inc acquired a new stake in BlackRock during the 4th quarter worth $33,000. Atwood & Palmer Inc. acquired a new position in shares of BlackRock in the 4th quarter valued at $36,000. Finally, West Financial Advisors LLC acquired a new position in shares of BlackRock in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group dropped their price objective on BlackRock from $1,045.00 to $1,010.00 and set a "neutral" rating for the company in a report on Friday, April 11th. TD Cowen cut their price target on shares of BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Bank of America decreased their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Finally, Citigroup reduced their target price on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,077.08.

BlackRock Stock Performance

Shares of BlackRock stock traded up $10.08 during trading on Friday, hitting $875.86. 1,034,313 shares of the stock were exchanged, compared to its average volume of 684,910. 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 company has a fifty day moving average price of $930.31 and a 200-day moving average price of $985.65. The stock has a market capitalization of $135.98 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a 1-year low of $748.02 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share for the quarter, topping analysts' consensus estimates of $10.84 by $0.46. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the business earned $9.81 earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 7th were given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.38%. This is a boost from BlackRock's previous quarterly dividend of $5.10. The ex-dividend date was Friday, March 7th. BlackRock's payout ratio is 50.63%.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the sale, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 20,430 shares of company stock worth $21,234,629 over the last ninety days. Insiders own 1.98% 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.