Crestwood Advisors Group LLC Has $1.04 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Crestwood Advisors Group LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 16.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,017 shares of the asset manager’s stock after purchasing an additional 140 shares during the period. Crestwood Advisors Group LLC’s holdings in BlackRock were worth $1,043,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of BlackRock by 0.7% in the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after acquiring an additional 42,757 shares during the period. Geode Capital Management LLC lifted its stake in BlackRock by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after purchasing an additional 30,182 shares during the last quarter. FMR LLC grew its holdings in BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC increased its position in BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after buying an additional 40,865 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its stake in 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 valued at $993,312,000 after buying an additional 1,044,962 shares during the period. 80.69% of the stock is owned by institutional investors.

BlackRock Stock Down 2.3 %

Shares of BLK opened at $951.45 on Tuesday. 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 stock has a market capitalization of $147.36 billion, a PE ratio of 22.65, a P/E/G ratio of 1.90 and a beta of 1.28. The firm’s 50 day moving average is $1,009.33 and its 200-day moving average is $979.66. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.66 EPS. Equities research analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.19%. BlackRock’s dividend payout ratio is currently 48.57%.

Insiders Place Their Bets

In other news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. This represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction that occurred 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 directly owns 6,480 shares in the company, valued at $6,777,432. This trade 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 over the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BLK shares. Citigroup lifted their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. StockNews.com began coverage on shares of BlackRock in a research report on Tuesday. They set a “hold” rating for the company. Wells Fargo & Company increased their price objective 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, January 16th. Evercore ISI lifted their target price on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Morgan Stanley increased their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

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.