Brady Family Wealth LLC Has $8.91 Million Stock Holdings in BlackRock, Inc. (NYSE:BLK)

Brady Family Wealth LLC reduced its stake in BlackRock, Inc. (NYSE:BLK) by 4.0% during the fourth quarter, HoldingsChannel reports. The firm owned 8,690 shares of the asset manager’s stock after selling 366 shares during the quarter. BlackRock accounts for about 2.7% of Brady Family Wealth LLC’s investment portfolio, making the stock its 6th largest holding. Brady Family Wealth LLC’s holdings in BlackRock were worth $8,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BLK. FSA Wealth Management LLC bought a new stake in shares of BlackRock during the third quarter worth about $26,000. Fairscale Capital LLC acquired a new stake in BlackRock during the 2nd quarter worth approximately $31,000. Reston Wealth Management LLC acquired a new position in BlackRock in the 3rd quarter valued at approximately $37,000. MFA Wealth Advisors LLC raised its stake in shares of BlackRock by 100.0% during the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares during the last quarter. Finally, Addison Advisors LLC grew its stake in shares of BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated 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 completion of the sale, the chief operating officer now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’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 sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com started coverage on BlackRock in a report on Thursday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI raised their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup lifted their price objective 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,100.50.

BlackRock Stock Performance

Shares of BLK stock opened at $1,012.62 on Thursday. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45. The company has a market cap of $156.83 billion, a P/E ratio of 24.99, a P/E/G ratio of 1.92 and a beta of 1.28. The firm has a 50-day moving average of $1,029.20 and a 200-day moving average of $943.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock (NYSE:BLK) last posted its quarterly earnings data 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 for 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 was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.66 earnings per share. Equities research analysts forecast that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is 50.35%.

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.