Powell Investment Advisors LLC Takes $726,000 Position in BlackRock, Inc. (NYSE:BLK)

Powell Investment Advisors LLC bought a new position in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 708 shares of the asset manager’s stock, valued at approximately $726,000.

Other hedge funds have also added to or reduced their stakes in the company. Soltis Investment Advisors LLC increased its position in BlackRock by 12.0% during the fourth quarter. Soltis Investment Advisors LLC now owns 496 shares of the asset manager’s stock valued at $509,000 after acquiring an additional 53 shares during the last quarter. Silicon Valley Capital Partners bought a new stake in shares of BlackRock during the 4th quarter valued at about $103,000. Elevation Wealth Partners LLC purchased a new stake in shares of BlackRock during the 4th quarter valued at about $99,000. Canvas Wealth Advisors LLC bought a new position in shares of BlackRock in the 4th quarter worth approximately $230,000. Finally, Angeles Wealth Management LLC purchased a new position in shares of BlackRock in the fourth quarter worth approximately $841,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Price Performance

BLK stock opened at $991.95 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The company’s fifty day moving average price is $1,024.93 and its 200-day moving average price is $968.98. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The company has a market capitalization of $153.63 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating 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 business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $9.66 EPS. The business’s revenue was up 22.6% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post 47.44 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be paid a $5.21 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a yield of 2.10%. BlackRock’s payout ratio is presently 48.57%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BLK. 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 report on Monday, January 13th. Citigroup boosted their price target on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Evercore ISI boosted their price objective on 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, JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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 stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value 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 approximately $69,117,330. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following 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 disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock valued at $115,163,141 in the last ninety days. 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.