BOK Financial Private Wealth Inc. Sells 32 Shares of BlackRock, Inc. (NYSE:BLK)

BOK Financial Private Wealth Inc. reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 866 shares of the asset manager’s stock after selling 32 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in BlackRock were worth $888,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farrow Financial Inc. raised its holdings in shares of BlackRock by 3.4% during the fourth quarter. Farrow Financial Inc. now owns 2,679 shares of the asset manager’s stock valued at $2,752,000 after acquiring an additional 87 shares in the last quarter. Argentarii LLC purchased a new position in BlackRock during the fourth quarter valued at $416,000. Jackson Hole Capital Partners LLC bought a new position in BlackRock in the 4th quarter worth $440,000. Personal CFO Solutions LLC bought a new stake in BlackRock in the 4th quarter valued at $934,000. Finally, Amundi purchased a new stake in shares of BlackRock in the fourth quarter worth about $528,792,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the sale, the director now directly owns 68,433 shares in the company, valued at $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 20,430 shares of company stock worth $21,234,629. Insiders own 0.90% of the company’s stock.

BlackRock Trading Down 1.2 %

NYSE BLK opened at $947.96 on Friday. 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 stock has a market capitalization of $146.82 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The stock’s 50 day moving average price is $994.60 and its two-hundred day moving average price is $985.00.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the company earned $9.66 EPS. BlackRock’s revenue was up 22.6% compared to the same quarter last year. As a group, analysts anticipate that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a $5.21 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is presently 49.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. UBS Group increased their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Morgan Stanley raised their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. StockNews.com assumed coverage on BlackRock in a research note on Wednesday. They set a “hold” rating on the stock. Wells Fargo & Company raised their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock 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.