Buckley Wealth Management LLC Takes $754,000 Position in BlackRock, Inc. (NYSE:BLK)

Buckley Wealth Management LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 736 shares of the asset manager’s stock, valued at approximately $754,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of BlackRock by 0.7% during the third quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock valued at $5,681,472,000 after acquiring an additional 42,757 shares during the period. Geode Capital Management LLC boosted its holdings in shares of BlackRock by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,816,577 shares of the asset manager’s stock valued at $2,663,330,000 after acquiring an additional 30,182 shares during the period. FMR LLC boosted its holdings in shares of BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after acquiring an additional 226,135 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of BlackRock by 1.9% during the third quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock valued at $2,081,561,000 after acquiring an additional 40,865 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in BlackRock by 17.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,102,643 shares of the asset manager’s stock worth $1,130,330,000 after purchasing an additional 160,323 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the transaction, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 20,430 shares of company stock worth $21,234,629. Corporate insiders own 0.90% of the company’s stock.

BlackRock Price Performance

Shares of NYSE BLK opened at $928.74 on Friday. BlackRock, Inc. has a twelve month low of $745.55 and a twelve 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 company has a market capitalization of $144.19 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.90 and a beta of 1.29. The firm has a 50-day moving average of $983.61 and a two-hundred day moving average of $985.61.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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 the consensus estimate of $5.57 billion. During the same quarter in the previous year, the company earned $9.66 EPS. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, analysts expect that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a $5.21 dividend. This represents a $20.84 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio is 49.62%.

Analysts Set New Price Targets

Several research firms recently weighed in on BLK. Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upped 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. Keefe, Bruyette & Woods reduced their price objective on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

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.