Savvy Advisors Inc. Has $399,000 Holdings in BlackRock, Inc. (NYSE:BLK)

Savvy Advisors Inc. lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 389 shares of the asset manager’s stock after purchasing an additional 38 shares during the quarter. Savvy Advisors Inc.’s holdings in BlackRock were worth $399,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BLK. Synovus Financial Corp raised its holdings in shares of BlackRock by 2.2% in the 4th quarter. Synovus Financial Corp now owns 5,805 shares of the asset manager’s stock worth $5,952,000 after acquiring an additional 123 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in BlackRock by 63.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,100 shares of the asset manager’s stock worth $4,203,000 after purchasing an additional 1,590 shares in the last quarter. Stamos Capital Partners L.P. purchased a new stake in shares of BlackRock in the fourth quarter worth approximately $3,731,000. BTG Pactual Asset Management US LLC bought a new position in shares of BlackRock in the fourth quarter valued at approximately $1,645,000. Finally, Advisors Capital Management LLC purchased a new position in shares of BlackRock during the fourth quarter valued at approximately $32,901,000. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Trading Up 1.4 %

Shares of BlackRock stock opened at $891.02 on Tuesday. The stock has a market capitalization of $138.33 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.90 and a beta of 1.38. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock’s 50-day simple moving average is $939.58 and its 200 day simple moving average is $987.88.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts’ consensus estimates of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.47 billion. During the same period in the prior year, the company posted $9.81 EPS. BlackRock’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a $5.21 dividend. The ex-dividend date was Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.34%. BlackRock’s payout ratio is 49.62%.

Insider Activity at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares of the company’s stock, valued at $73,403,973.12. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 20,430 shares of company stock worth $21,234,629. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BLK. Citigroup cut their price objective on shares of BlackRock from $1,200.00 to $1,100.00 and set a “buy” rating on the stock in a report on Monday. Morgan Stanley reduced their price objective on shares of BlackRock from $1,275.00 to $1,124.00 and set an “overweight” rating for the company in a research report on Monday, April 7th. StockNews.com assumed coverage on shares of BlackRock in a research report on Monday. They set a “hold” rating on the stock. JPMorgan Chase & Co. reduced their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods dropped 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, January 13th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,077.08.

BlackRock Company 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.