Centurion Wealth Management LLC acquired a new position in BlackRock, Inc. (NYSE:BLK – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 682 shares of the asset manager’s stock, valued at approximately $699,000.
A number of other institutional investors and hedge funds have also modified their holdings of BLK. FSA Wealth Management LLC acquired a new stake in shares of BlackRock in the third quarter worth $26,000. IAG Wealth Partners LLC acquired a new stake in shares of BlackRock in the fourth quarter worth $26,000. Collier Financial acquired a new stake in shares of BlackRock in the fourth quarter worth $32,000. Compass Planning Associates Inc bought a new position in BlackRock during the fourth quarter worth $33,000. Finally, Atwood & Palmer Inc. bought a new position in BlackRock during the fourth quarter worth $36,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.
BlackRock Stock Up 3.1 %
BLK opened at $928.74 on Friday. The firm’s 50-day simple moving average is $983.61 and its 200-day simple moving average is $986.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The firm has a market cap of $144.19 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.90 and a beta of 1.29.
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 given a dividend of $5.21 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.24%. BlackRock’s dividend payout ratio is 49.62%.
Insider Buying and Selling
In related news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 68,433 shares in the company, valued at $69,117,330. This represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 20,430 shares of company stock worth $21,234,629 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.
Analyst Ratings Changes
BLK has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price 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. Citigroup boosted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. UBS Group boosted their target price on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, Barclays lowered their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,120.67.
View Our Latest Analysis on BLK
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.
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