Stokes Family Office LLC Raises Holdings in BlackRock, Inc. (NYSE:BLK)

Stokes Family Office LLC raised its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,490 shares of the asset manager’s stock after purchasing an additional 66 shares during the period. Stokes Family Office LLC’s holdings in BlackRock were worth $5,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in shares of BlackRock in the 3rd quarter worth $26,000. IAG Wealth Partners LLC purchased a new position in shares of BlackRock in the 4th quarter worth $26,000. Collier Financial purchased a new position in shares of BlackRock in the 4th quarter worth $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock in the 4th quarter worth $33,000. Finally, Atwood & Palmer Inc. purchased a new position in shares of BlackRock in the 4th quarter worth $36,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Trading Down 0.1 %

Shares of BLK stock opened at $957.17 on Wednesday. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average price is $982.08 and its 200-day moving average price is $987.81. The stock has a market capitalization of $148.60 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the previous year, the firm posted $9.66 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. Equities research analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.18%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s payout ratio is 49.62%.

Insider Transactions at BlackRock

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BLK. Keefe, Bruyette & Woods dropped their price target 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. JPMorgan Chase & Co. lifted their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Wells Fargo & Company lifted their target price on BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays lowered their target price on 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,120.67.

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.