Blue Edge Capital LLC Purchases 31 Shares of BlackRock, Inc. (NYSE:BLK)


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Blue Edge Capital LLC boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,214 shares of the asset manager’s stock after buying an additional 31 shares during the quarter. Blue Edge Capital LLC’s holdings in BlackRock were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Weaver Consulting Group increased its holdings in shares of BlackRock by 4.7% in the fourth quarter. Weaver Consulting Group now owns 336 shares of the asset manager’s stock valued at $242,000 after purchasing an additional 15 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. increased its holdings in shares of BlackRock by 4.4% in the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 376 shares of the asset manager’s stock valued at $272,000 after purchasing an additional 16 shares during the last quarter. Castle Rock Wealth Management LLC increased its holdings in shares of BlackRock by 2.2% in the fourth quarter. Castle Rock Wealth Management LLC now owns 753 shares of the asset manager’s stock valued at $553,000 after purchasing an additional 16 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of BlackRock by 0.9% in the third quarter. Cetera Investment Advisers now owns 2,010 shares of the asset manager’s stock valued at $1,133,000 after purchasing an additional 17 shares during the last quarter. Finally, Delta Asset Management LLC TN increased its holdings in shares of BlackRock by 16.5% in the fourth quarter. Delta Asset Management LLC TN now owns 120 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 17 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of BlackRock from $700.00 to $805.00 and gave the company an “overweight” rating in a research note on Wednesday, December 30th. Morgan Stanley upped their price target on shares of BlackRock from $750.00 to $890.00 and gave the company an “overweight” rating in a research note on Monday, January 11th. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating and set a $733.00 price target on the stock. in a research note on Monday, December 21st. Barclays upped their price target on shares of BlackRock from $800.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, January 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $835.00 to $838.00 and gave the company a “buy” rating in a research note on Friday, January 15th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $709.08.

In related news, CFO Gary Shedlin sold 3,206 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $730.41, for a total value of $2,341,694.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 1,775 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $735.85, for a total transaction of $1,306,133.75. The disclosure for this sale can be found here. Insiders sold 40,887 shares of company stock valued at $29,822,320 in the last three months. Company insiders own 1.42% of the company’s stock.

BlackRock stock traded down $8.61 during trading hours on Tuesday, reaching $694.53. 21,041 shares of the stock were exchanged, compared to its average volume of 750,371. The company has a market cap of $105.92 billion, a P/E ratio of 21.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a twelve month low of $323.98 and a twelve month high of $788.00. The stock has a 50 day moving average of $729.40 and a two-hundred day moving average of $655.58.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, January 13th. The asset manager reported $10.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.14 by $1.04. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.28 billion. BlackRock had a net margin of 30.43% and a return on equity of 15.74%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $8.34 earnings per share. On average, analysts expect that BlackRock, Inc. will post 36.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 23rd. Stockholders of record on Friday, March 5th will be issued a $4.13 dividend. The ex-dividend date is Thursday, March 4th. This represents a $16.52 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from BlackRock’s previous quarterly dividend of $3.63. BlackRock’s dividend payout ratio is 42.93%.

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.

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Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLK).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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