Wellington Shields Capital Management LLC Buys 675 Shares of BlackRock $BLK

Wellington Shields Capital Management LLC raised its stake in BlackRock (NYSE:BLK) by 20.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,917 shares of the asset manager’s stock after acquiring an additional 675 shares during the period. Wellington Shields Capital Management LLC’s holdings in BlackRock were worth $4,193,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in BlackRock by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 14,062,677 shares of the asset manager’s stock valued at $15,051,846,000 after acquiring an additional 221,123 shares during the period. Capital International Investors grew its position in BlackRock by 0.6% in the third quarter. Capital International Investors now owns 1,841,088 shares of the asset manager’s stock valued at $2,146,663,000 after acquiring an additional 10,591 shares during the period. Oak Harvest Investment Services grew its position in BlackRock by 12,176.1% in the fourth quarter. Oak Harvest Investment Services now owns 1,595,153 shares of the asset manager’s stock valued at $1,707,356,000 after acquiring an additional 1,582,159 shares during the period. Blue Owl Capital Holdings LP bought a new stake in BlackRock in the fourth quarter valued at $1,012,487,000. Finally, Legal & General Group Plc boosted its stake in BlackRock by 0.8% in the fourth quarter. Legal & General Group Plc now owns 920,578 shares of the asset manager’s stock worth $985,331,000 after purchasing an additional 7,457 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BlackRock

In other news, CEO Laurence Fink sold 33,900 shares of BlackRock stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the transaction, the chief executive officer owned 230,516 shares in the company, valued at approximately $242,168,583.80. This trade represents a 12.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Robert Kapito sold 8,739 shares of BlackRock stock in a transaction on Monday, April 27th. The shares were sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the completion of the transaction, the president owned 210,186 shares in the company, valued at approximately $222,082,527.60. The trade was a 3.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.92% of the company’s stock.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their price target on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Keefe, Bruyette & Woods raised their price objective on BlackRock from $1,150.00 to $1,240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Jefferies Financial Group cut their price objective on BlackRock from $1,351.00 to $1,199.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, Morgan Stanley raised their price objective on BlackRock from $1,368.00 to $1,393.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,269.06.

BlackRock Trading Up 0.0%

Shares of BLK opened at $1,073.03 on Tuesday. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94. The business’s fifty day moving average is $1,021.10 and its 200-day moving average is $1,053.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a market cap of $166.57 billion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.40 and a beta of 1.44.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Tuesday, April 14th. The asset manager reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.40 by $0.13. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the company posted $9.64 EPS. The company’s revenue for the quarter was up 27.0% compared to the same quarter last year. Equities analysts anticipate that BlackRock will post 52.8 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 5th will be paid a $5.73 dividend. The ex-dividend date is Friday, June 5th. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. BlackRock’s dividend payout ratio (DPR) is presently 57.53%.

About BlackRock

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.