Roxbury Financial LLC Invests $784,000 in BlackRock, Inc. (NYSE:BLK)

Roxbury Financial LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 766 shares of the asset manager’s stock, valued at approximately $784,000.

A number of other institutional investors have also made changes to their positions in BLK. CX Institutional raised its position in BlackRock by 4.7% during the third quarter. CX Institutional now owns 425 shares of the asset manager’s stock worth $404,000 after acquiring an additional 19 shares in the last quarter. Creative Planning raised its position in BlackRock by 6.2% during the third quarter. Creative Planning now owns 23,217 shares of the asset manager’s stock worth $22,044,000 after acquiring an additional 1,353 shares in the last quarter. Good Life Advisors LLC increased its holdings in shares of BlackRock by 50.0% in the third quarter. Good Life Advisors LLC now owns 816 shares of the asset manager’s stock valued at $775,000 after purchasing an additional 272 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of BlackRock by 7.9% in the third quarter. Global Retirement Partners LLC now owns 4,779 shares of the asset manager’s stock valued at $4,537,000 after purchasing an additional 351 shares during the last quarter. Finally, Trust Co. of Vermont increased its holdings in shares of BlackRock by 2.3% in the third quarter. Trust Co. of Vermont now owns 29,339 shares of the asset manager’s stock valued at $27,858,000 after purchasing an additional 666 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group upped their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays decreased 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 research note on Monday, January 13th. Evercore ISI upped their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Citigroup upped their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Transactions at BlackRock

In related news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the completion of the transaction, the director now owns 68,433 shares in the company, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is currently owned by insiders.

BlackRock Trading Down 0.7 %

Shares of BlackRock stock opened at $973.22 on Friday. The company has a market capitalization of $150.73 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.93 and a beta of 1.28. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The firm’s 50-day moving average price is $1,020.68 and its two-hundred day moving average price is $972.03.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.66 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a $5.21 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.14%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio 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.