Dover Advisors LLC Buys New Stake in BlackRock, Inc. (NYSE:BLK)

Dover Advisors LLC purchased a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,199 shares of the asset manager’s stock, valued at approximately $1,229,000.

Other large investors have also made changes to their positions in the company. Delta Financial Group Inc. purchased a new position in BlackRock during the 4th quarter worth $344,000. MONECO Advisors LLC boosted its holdings in BlackRock by 675.0% in the fourth quarter. MONECO Advisors LLC now owns 2,077 shares of the asset manager’s stock worth $2,129,000 after acquiring an additional 1,809 shares in the last quarter. Forvis Mazars Wealth Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter worth about $504,000. Howard Capital Management Inc. acquired a new position in shares of BlackRock during the fourth quarter valued at about $977,000. Finally, Integral Investment Advisors Inc. purchased a new position in shares of BlackRock in the 4th quarter valued at approximately $667,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut 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 note on Monday, January 13th. JPMorgan Chase & Co. upped 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. StockNews.com started coverage on BlackRock in a research note on Monday, February 17th. They issued a “hold” rating for the company. Evercore ISI increased their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Trading Down 1.5 %

Shares of NYSE:BLK opened at $974.97 on Monday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22. The business has a 50 day moving average of $1,011.61 and a two-hundred day moving average of $978.98. The company has a market capitalization of $151.00 billion, a PE ratio of 23.21, a PEG ratio of 1.90 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $9.66 EPS. As a group, analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current 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. The ex-dividend date of this dividend 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 dividend yield of 2.14%. BlackRock’s dividend payout ratio (DPR) is 48.57%.

Insider Activity at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the firm’s 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 value of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the company’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 value of $10,100,000.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 110,190 shares of company stock worth $115,163,141 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

BlackRock 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.