Red Door Wealth Management LLC Buys 95 Shares of BlackRock, Inc. (NYSE:BLK)

Red Door Wealth Management LLC increased its position in shares of BlackRock, Inc. (NYSE:BLK) by 24.0% during the 4th quarter, Holdings Channel reports. The fund owned 491 shares of the asset manager’s stock after buying an additional 95 shares during the quarter. Red Door Wealth Management LLC’s holdings in BlackRock were worth $503,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after purchasing an additional 42,757 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of BlackRock by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after purchasing an additional 30,182 shares in the last quarter. FMR LLC boosted its holdings in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after buying an additional 226,135 shares during the period. Fisher Asset Management LLC increased its position 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 acquiring an additional 40,865 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of BlackRock by 2.9% during the second quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock worth $1,310,762,000 after acquiring an additional 46,728 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BLK. Citigroup increased 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. Wells Fargo & Company raised their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays cut 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 report on Monday, January 13th. UBS Group lifted their target price on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, TD Cowen increased their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Stock Performance

NYSE:BLK opened at $1,016.99 on Friday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $1,025.37 and a 200 day simple moving average of $951.85. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. The stock has a market cap of $157.51 billion, a P/E ratio of 24.21, a PEG ratio of 1.83 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the company posted $9.66 earnings per share. Research analysts anticipate that BlackRock, Inc. will post 47.43 earnings per share for the current year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio is currently 48.57%.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction 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 owns 68,433 shares in the company, valued at approximately $69,117,330. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, 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. Insiders sold 100,190 shares of company stock valued at $104,436,741 in the last three months. Corporate insiders own 0.90% of the company’s stock.

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.