Radnor Capital Management LLC Sells 410 Shares of BlackRock, Inc. (NYSE:BLK)

Radnor Capital Management LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,929 shares of the asset manager’s stock after selling 410 shares during the period. Radnor Capital Management LLC’s holdings in BlackRock were worth $1,977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in BlackRock by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 397,641 shares of the asset manager’s stock valued at $313,063,000 after buying an additional 20,692 shares in the last quarter. One Capital Management LLC increased its position in BlackRock by 31.7% in the second quarter. One Capital Management LLC now owns 324 shares of the asset manager’s stock worth $255,000 after purchasing an additional 78 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in BlackRock by 325.9% during the second quarter. Citizens Financial Group Inc. RI now owns 2,266 shares of the asset manager’s stock valued at $1,784,000 after purchasing an additional 1,734 shares in the last quarter. Luts & Greenleigh Group Inc. bought a new position in BlackRock during the second quarter valued at $254,000. Finally, Edgestream Partners L.P. purchased a new position in shares of BlackRock in the 2nd quarter worth $383,000. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of 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 represents a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Up 0.8 %

Shares of NYSE BLK opened at $962.75 on Wednesday. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45. The firm has a market capitalization of $149.11 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.92 and a beta of 1.28. The stock has a 50 day moving average price of $1,029.20 and a 200 day moving average price of $943.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $9.66 EPS. Sell-side analysts expect that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, December 5th were issued a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a dividend yield of 2.12%. BlackRock’s dividend payout ratio is currently 50.35%.

Analysts Set New Price Targets

Several research firms recently commented on BLK. Citigroup lifted their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research 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. JPMorgan Chase & Co. raised their price target on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group upped their price target on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,088.67.

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.