5,465 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Glassy Mountain Advisors Inc.

Glassy Mountain Advisors Inc. purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, Holdings Channel.com reports. The firm purchased 5,465 shares of the asset manager’s stock, valued at approximately $5,602,000. BlackRock comprises approximately 1.9% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Marino Stram & Associates LLC grew its position in BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares during the last quarter. Fidelity D & D Bancorp Inc. grew its position in BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after purchasing an additional 10 shares during the last quarter. Princeton Global Asset Management LLC grew its position in BlackRock by 8.7% during the 4th quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock worth $128,000 after purchasing an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its position in BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in BlackRock by 0.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock worth $3,251,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Stock Performance

NYSE:BLK opened at $1,005.99 on Friday. The firm has a 50 day simple moving average of $1,025.82 and a 200-day simple moving average of $966.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The firm has a market cap of $155.81 billion, a PE ratio of 23.95, a P/E/G ratio of 2.06 and a beta of 1.28. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,084.22.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.66 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post 47.45 EPS for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.07%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s payout ratio is presently 48.57%.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the business’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 completion of the sale, the director now directly owns 6,480 shares in the company, valued at $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the sale, the director now owns 68,433 shares of the company’s stock, valued at approximately $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,190 shares of company stock worth $115,163,141. 0.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. StockNews.com assumed coverage on shares of BlackRock in a report on Saturday, February 1st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their target price 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. TD Cowen lifted their target price on shares of BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group lifted their target price 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. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.