HB Wealth Management LLC Purchases New Shares in BlackRock, Inc. (NYSE:BLK)

HB Wealth Management LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,417 shares of the asset manager's stock, valued at approximately $6,579,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its position in BlackRock by 0.7% during the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager's stock worth $5,681,472,000 after purchasing an additional 42,757 shares in the last quarter. Geode Capital Management LLC raised its position in BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager's stock valued at $2,663,330,000 after buying an additional 30,182 shares during the period. FMR LLC lifted its stake in BlackRock by 10.6% in the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager's stock worth $2,244,608,000 after acquiring an additional 226,135 shares in the last quarter. Fisher Asset Management LLC boosted its position in BlackRock by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager's stock worth $2,081,561,000 after acquiring an additional 40,865 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in BlackRock by 2.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager's stock valued at $1,310,762,000 after acquiring an additional 46,728 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insider Activity

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction 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 completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the company's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the sale, the chief operating officer now directly 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. Corporate insiders own 0.90% of the company's stock.

BlackRock Stock Performance

BlackRock stock traded up $8.51 on Friday, reaching $1,004.23. 1,079,196 shares of the stock were exchanged, compared to its average volume of 610,586. The stock has a market cap of $155.54 billion, a PE ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. The firm has a fifty day moving average price of $1,027.33 and a two-hundred day moving average price of $947.28. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK - Get Free Report) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.57 billion. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The firm's revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company earned $9.66 earnings per share. Sell-side analysts anticipate that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock's dividend payout ratio (DPR) is presently 50.35%.

Analysts Set New Price Targets

A number of research analysts recently commented on BLK shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley upped their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an "overweight" rating in a research note on Thursday. Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. TD Cowen upped their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on BlackRock from $1,155.00 to $1,175.00 and gave the company an "overweight" rating in a report on Thursday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,103.33.

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.