Private Advisor Group LLC Sells 494 Shares of BlackRock, Inc. (NYSE:BLK)

Private Advisor Group LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLK - Free Report) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,541 shares of the asset manager's stock after selling 494 shares during the period. Private Advisor Group LLC's holdings in BlackRock were worth $11,831,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Alberta Investment Management Corp increased its position in BlackRock by 242.3% during the fourth quarter. Alberta Investment Management Corp now owns 21,905 shares of the asset manager's stock worth $22,455,000 after acquiring an additional 15,505 shares during the period. Global Retirement Partners LLC lifted its stake in shares of BlackRock by 21.9% in the fourth quarter. Global Retirement Partners LLC now owns 5,825 shares of the asset manager's stock valued at $5,971,000 after buying an additional 1,046 shares during the period. Convergence Investment Partners LLC raised its holdings in BlackRock by 1,003.7% in the 4th quarter. Convergence Investment Partners LLC now owns 2,406 shares of the asset manager's stock valued at $2,467,000 after acquiring an additional 2,188 shares in the last quarter. Atlas Legacy Advisors LLC bought a new position in BlackRock in the fourth quarter worth $624,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of BlackRock during the 4th quarter worth about $2,199,000. Institutional investors own 80.69% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLK shares. StockNews.com began coverage on BlackRock in a report on Monday. They set a "hold" rating on the stock. Barclays decreased their price target on BlackRock from $1,220.00 to $1,160.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company increased their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods reduced 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 research note on Monday, January 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,120.67.

BlackRock Price Performance

NYSE:BLK traded down $14.41 during mid-day trading on Friday, reaching $974.97. 1,253,611 shares of the company were exchanged, compared to its average volume of 821,976. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a market cap of $151.00 billion, a PE ratio of 23.21, a PEG ratio of 1.89 and a beta of 1.28. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22. The company has a fifty day moving average of $1,013.24 and a 200 day 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 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the prior year, the firm earned $9.66 earnings per share. BlackRock's revenue was up 22.6% compared to the same quarter last year. On average, research analysts anticipate that BlackRock, Inc. will post 47.44 EPS for the current fiscal year.

BlackRock Increases Dividend

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

Insider Activity

In related news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company's stock, valued at $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Robert L. Goldstein sold 54,000 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares of the company's stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock valued at $115,163,141 over the last 90 days. 0.90% of the stock is owned by company insiders.

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.