BlackRock, Inc. (NYSE:BLK) Shares Acquired by Truist Financial Corp

Truist Financial Corp raised its holdings in BlackRock, Inc. (NYSE:BLK - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 217,335 shares of the asset manager's stock after acquiring an additional 3,003 shares during the period. Truist Financial Corp owned approximately 0.14% of BlackRock worth $222,792,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Creative Planning increased its holdings in shares of BlackRock by 6.2% during the 3rd quarter. Creative Planning now owns 23,217 shares of the asset manager's stock worth $22,044,000 after buying an additional 1,353 shares during the last quarter. Moss Adams Wealth Advisors LLC increased its holdings in shares of BlackRock by 12.7% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 310 shares of the asset manager's stock worth $294,000 after buying an additional 35 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of BlackRock by 32.6% during the 3rd quarter. Blue Trust Inc. now owns 899 shares of the asset manager's stock worth $854,000 after buying an additional 221 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of BlackRock by 1.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 46,834 shares of the asset manager's stock worth $44,470,000 after buying an additional 656 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC acquired a new stake in shares of BlackRock during the 3rd quarter worth approximately $630,000. Institutional investors and hedge funds own 80.69% of the company's stock.

BlackRock Stock Up 0.4 %

NYSE:BLK traded up $4.13 during midday trading on Thursday, hitting $990.47. 768,915 shares of the company were exchanged, compared to its average volume of 808,873. The company has a fifty day simple moving average of $1,014.60 and a 200 day simple moving average of $975.94. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. 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 market capitalization of $153.40 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.88 and a beta of 1.28.

BlackRock (NYSE:BLK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping 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 firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the business earned $9.66 EPS. BlackRock's revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, equities analysts anticipate that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a dividend of $5.21 per share. This is a positive change from BlackRock's previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, March 7th. BlackRock's dividend payout ratio (DPR) is currently 48.57%.

Wall Street Analyst Weigh In

BLK has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Wells Fargo & Company raised their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an "outperform" rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, StockNews.com assumed coverage on shares of BlackRock in a research report on Monday. They issued a "hold" rating for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,120.67.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction on Friday, December 6th. The shares were 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 owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock worth $115,163,141 in the last ninety days. 0.90% of the stock is owned by corporate insiders.

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.