Silverlake Wealth Management LLC Sells 176 Shares of BlackRock, Inc. (NYSE:BLK)

Silverlake Wealth Management LLC lessened its stake in BlackRock, Inc. (NYSE:BLK) by 38.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 277 shares of the asset manager’s stock after selling 176 shares during the period. Silverlake Wealth Management LLC’s holdings in BlackRock were worth $284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLK. Czech National Bank lifted its position in BlackRock by 6.6% in the third quarter. Czech National Bank now owns 28,364 shares of the asset manager’s stock worth $26,932,000 after purchasing an additional 1,745 shares during the period. Miracle Mile Advisors LLC boosted its position in shares of BlackRock by 7.2% during the 3rd quarter. Miracle Mile Advisors LLC now owns 565 shares of the asset manager’s stock valued at $536,000 after acquiring an additional 38 shares in the last quarter. Atomi Financial Group Inc. increased its stake in BlackRock by 28.4% in the third quarter. Atomi Financial Group Inc. now owns 1,593 shares of the asset manager’s stock valued at $1,513,000 after acquiring an additional 352 shares during the period. Artemis Investment Management LLP acquired a new position in BlackRock in the third quarter worth about $25,328,000. Finally, O Keefe Stevens Advisory Inc. lifted its stake in BlackRock by 38.2% during the third quarter. O Keefe Stevens Advisory Inc. now owns 630 shares of the asset manager’s stock worth $598,000 after purchasing an additional 174 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BLK has been the subject of a number of recent research reports. Morgan Stanley increased their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays cut their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. UBS Group boosted their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,190 shares of company stock worth $115,163,141. Insiders own 0.90% of the company’s stock.

BlackRock Stock Down 0.1 %

Shares of BLK opened at $1,014.43 on Thursday. The firm has a market capitalization of $157.11 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.06 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 company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The business’s fifty day moving average price is $1,025.92 and its two-hundred day moving average price is $966.48.

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

BlackRock Increases Dividend

The firm 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. The ex-dividend date is Friday, March 7th. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.05%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

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.