Pacific Point Advisors LLC Purchases Shares of 439 BlackRock, Inc. (NYSE:BLK)

Pacific Point Advisors LLC bought a new position in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 439 shares of the asset manager’s stock, valued at approximately $446,000.

Several other institutional investors and hedge funds also recently modified their holdings of BLK. IAG Wealth Partners LLC acquired a new stake in BlackRock during the fourth quarter valued at approximately $26,000. Investment Management Corp VA ADV bought a new stake in shares of BlackRock during the 4th quarter worth $30,000. Collier Financial purchased a new stake in shares of BlackRock in the fourth quarter valued at $32,000. Compass Planning Associates Inc purchased a new stake in shares of BlackRock in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC acquired a new stake in BlackRock during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. 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. TD Cowen dropped their target price on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Bank of America decreased their price target 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. Finally, Barclays upped their target price on shares of BlackRock from $950.00 to $990.00 and gave the stock an “overweight” rating in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,077.08.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $912.50, for a total value of $9,125,000.00. Following the completion of the transaction, the director now directly owns 66,034 shares of the company’s stock, valued at approximately $60,256,025. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 12,430 shares of company stock valued at $11,237,249. Company insiders own 1.98% of the company’s stock.

BlackRock Stock Performance

Shares of BLK stock opened at $969.56 on Friday. The stock has a market capitalization of $150.21 billion, a P/E ratio of 23.08, a PEG ratio of 1.90 and a beta of 1.41. 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 firm’s 50 day moving average is $920.79 and its 200 day moving average is $978.04. BlackRock, Inc. has a 12 month low of $752.30 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, topping analysts’ consensus estimates of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.81 EPS. On average, sell-side analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th will be given a $5.21 dividend. The ex-dividend date is Thursday, June 5th. This represents a $20.84 annualized dividend and a dividend yield of 2.15%. BlackRock’s dividend payout ratio is 50.63%.

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.