882 Shares in BlackRock, Inc. (NYSE:BLK) Bought by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, Holdings Channel.com reports. The fund purchased 882 shares of the asset manager’s stock, valued at approximately $904,000.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp grew its holdings in BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after acquiring an additional 42,757 shares during the period. Geode Capital Management LLC boosted its position in BlackRock by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock worth $2,663,330,000 after purchasing an additional 30,182 shares in the last quarter. FMR LLC grew its stake in shares of BlackRock by 10.6% during the 3rd quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after purchasing an additional 226,135 shares during the period. Fisher Asset Management LLC increased its holdings in shares of BlackRock by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after purchasing an additional 40,865 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of BlackRock by 2.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,665,044 shares of the asset manager’s stock valued at $1,310,762,000 after purchasing an additional 46,728 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BLK. Keefe, Bruyette & Woods dropped their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday. Barclays lowered their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday. StockNews.com assumed coverage on BlackRock in a research report on Thursday. They issued a “hold” rating for the company. Finally, Morgan Stanley increased their target price on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,103.33.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

BlackRock Stock Down 1.8 %

NYSE BLK opened at $995.02 on Friday. The business has a fifty day moving average price of $1,028.86 and a 200 day moving average price of $944.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The company has a market cap of $154.11 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.53 and a beta of 1.28. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the company earned $9.66 EPS. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Research analysts anticipate that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were paid a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a yield of 2.05%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

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.