Legacy Wealth Asset Management LLC Acquires Shares of 882 BlackRock, Inc. (NYSE:BLK)

Legacy Wealth Asset Management LLC purchased a new position in BlackRock, Inc. (NYSE:BLK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 882 shares of the asset manager's stock, valued at approximately $904,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BLK. Pathway Financial Advisers LLC grew its stake in shares of BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager's stock worth $993,312,000 after acquiring an additional 1,044,962 shares during the last quarter. International Assets Investment Management LLC grew its position in BlackRock by 104,468.9% during the 3rd quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager's stock valued at $7,526,120,000 after purchasing an additional 791,874 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in BlackRock during the 4th quarter valued at about $330,662,000. FMR LLC raised its holdings in BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager's stock worth $2,244,608,000 after buying an additional 226,135 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of BlackRock in the third quarter worth approximately $115,377,000. Institutional investors own 80.69% of the company's stock.

Insider Activity at BlackRock

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 the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company's stock, valued at $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Performance

BLK stock traded up $8.51 during midday trading on Friday, reaching $1,004.23. 1,079,196 shares of the company's stock traded hands, compared to its average volume of 845,727. 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, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45. The stock has a market cap of $155.54 billion, a P/E ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. The stock's 50-day moving average is $1,028.03 and its 200 day moving average is $944.64.

BlackRock (NYSE:BLK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. BlackRock's revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $9.66 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.03%. BlackRock's payout ratio is currently 50.35%.

Analyst Ratings Changes

Several brokerages recently weighed in on BLK. Wells Fargo & Company raised their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an "overweight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a report on Thursday. Keefe, Bruyette & Woods lowered their price target on BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating on the stock in a report on Monday. 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 report on Thursday. Finally, StockNews.com began coverage on shares of BlackRock in a research note on Thursday. They set a "hold" rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, BlackRock presently has an average rating of "Moderate Buy" and a consensus price target 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.