Jackson Wealth Management LLC Buys New Shares in BlackRock, Inc. (NYSE:BLK)

Jackson Wealth Management LLC bought a new stake in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,452 shares of the asset manager’s stock, valued at approximately $3,539,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in BlackRock by 0.7% during 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 purchasing an additional 42,757 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after buying an additional 30,182 shares in the last quarter. FMR LLC lifted its holdings in shares of 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 buying an additional 226,135 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of 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 in the last quarter. Finally, Pathway Financial Advisers LLC lifted its holdings in shares of BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BLK has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Evercore ISI lifted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup lifted their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. StockNews.com started coverage on BlackRock in a research note on Saturday. They issued a “hold” rating for the company. Finally, TD Cowen boosted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the transaction, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. The trade was a 12.75 % decrease in their position. 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 54,000 shares of BlackRock stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares in the company, valued at $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,190 shares of company stock worth $115,163,141. 0.90% of the stock is currently owned by insiders.

BlackRock Trading Up 0.3 %

Shares of BLK opened at $1,017.12 on Wednesday. The business has a 50-day moving average of $1,026.10 and a 200 day moving average of $965.17. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The firm has a market cap of $157.53 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. 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 (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the company earned $9.66 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. As a group, research analysts forecast that BlackRock, Inc. will post 47.45 EPS for the current year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is 48.57%.

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.