Angeles Investment Advisors LLC Buys Shares of 590 BlackRock, Inc. (NYSE:BLK)

Angeles Investment Advisors LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 590 shares of the asset manager’s stock, valued at approximately $605,000.

A number of other large investors have also recently bought and sold shares of BLK. United Bank boosted its holdings in shares of BlackRock by 1.1% during the third quarter. United Bank now owns 1,121 shares of the asset manager’s stock worth $1,064,000 after purchasing an additional 12 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of BlackRock by 3.7% during the third quarter. Pacer Advisors Inc. now owns 10,310 shares of the asset manager’s stock worth $9,789,000 after purchasing an additional 369 shares during the last quarter. Great Valley Advisor Group Inc. boosted its holdings in shares of BlackRock by 8.5% during the third quarter. Great Valley Advisor Group Inc. now owns 3,923 shares of the asset manager’s stock worth $3,725,000 after purchasing an additional 306 shares during the last quarter. Okabena Investment Services Inc. boosted its holdings in shares of BlackRock by 7.4% during the third quarter. Okabena Investment Services Inc. now owns 1,548 shares of the asset manager’s stock worth $1,470,000 after purchasing an additional 107 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. boosted its holdings in shares of BlackRock by 3.3% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 14,622 shares of the asset manager’s stock worth $13,883,000 after purchasing an additional 466 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated 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 approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BLK shares. Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Barclays cut 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. Deutsche Bank Aktiengesellschaft increased their target price 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. Wells Fargo & Company increased their target price on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, 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 report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Trading Down 0.4 %

NYSE:BLK opened at $950.43 on Monday. The business’s 50-day moving average is $980.77 and its two-hundred day moving average is $989.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22. The firm has a market capitalization of $147.56 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 1.90 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 return on equity of 16.32% and a net margin of 31.21%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period last year, the company posted $9.66 earnings per share. The firm’s revenue was up 22.6% compared to the same quarter last year. Research analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.19%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s payout ratio is presently 49.62%.

About BlackRock

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.