IAG Wealth Partners LLC Buys New Stake in BlackRock, Inc. (NYSE:BLK)

IAG Wealth Partners LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 25 shares of the asset manager’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently bought and sold shares of BLK. FSA Wealth Management LLC purchased a new stake in BlackRock in the 3rd quarter valued at about $26,000. Collier Financial purchased a new position in BlackRock in the 4th quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new stake in BlackRock during the 4th quarter valued at $33,000. Atwood & Palmer Inc. purchased a new stake in shares of BlackRock during the fourth quarter worth about $36,000. Finally, West Financial Advisors LLC purchased a new stake in BlackRock during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the sale, the director now owns 3,720 shares in the company, valued at approximately $3,531,656.40. This represents a 10.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 20,430 shares of company stock worth $21,234,629 over the last ninety days. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BLK. Citigroup boosted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. UBS Group upped their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Finally, StockNews.com started coverage on BlackRock in a research note on Thursday. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. 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 Stock Down 1.1 %

Shares of NYSE:BLK opened at $900.50 on Friday. The firm has a 50 day simple moving average of $985.45 and a 200 day simple moving average of $985.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,084.22. The company has a market cap of $139.81 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping 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 firm’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.66 earnings per share. As a group, research analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be paid a dividend of $5.21 per share. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.31%. BlackRock’s dividend payout ratio (DPR) is 49.62%.

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.