Lebenthal Global Advisors LLC Has $1.59 Million Stake in BlackRock, Inc. (NYSE:BLK)

Lebenthal Global Advisors LLC increased its stake in BlackRock, Inc. (NYSE:BLK) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,552 shares of the asset manager’s stock after acquiring an additional 121 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in BlackRock were worth $1,591,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BLK. FSA Wealth Management LLC acquired a new position in shares of BlackRock during the third quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at about $36,000. Reston Wealth Management LLC acquired a new position in BlackRock during the 3rd quarter worth approximately $37,000. MFA Wealth Advisors LLC boosted its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares in the last quarter. Finally, West Financial Advisors LLC acquired a new stake in BlackRock in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on 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 completion of the transaction, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,190 shares of company stock worth $104,436,741. 0.90% of the stock is owned by company insiders.

BlackRock Stock Up 0.9 %

BLK stock opened at $1,029.63 on Tuesday. 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 $159.47 billion, a P/E ratio of 24.52, a P/E/G ratio of 1.82 and a beta of 1.28. The stock’s fifty day simple moving average is $1,024.23 and its two-hundred day simple moving average is $955.97. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

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

BlackRock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were given a dividend of $5.10 per share. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 1.98%. BlackRock’s dividend payout ratio is presently 48.57%.

Analysts Set New Price Targets

BLK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. TD Cowen raised their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley boosted their target price on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup raised 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 report on Monday, December 23rd. Finally, Barclays lowered their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

About BlackRock

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.