Goelzer Investment Management Inc. Invests $523,000 in BlackRock, Inc. (NYSE:BLK)

Goelzer Investment Management Inc. bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, Holdings Channel reports. The institutional investor bought 510 shares of the asset manager’s stock, valued at approximately $523,000.

A number of other large investors have also bought and sold shares of the stock. FSA Wealth Management LLC acquired a new position in shares of BlackRock during the third quarter worth approximately $26,000. Atwood & Palmer Inc. acquired a new position in BlackRock during the fourth quarter worth $36,000. Reston Wealth Management LLC bought a new position in shares of BlackRock in the third quarter valued at $37,000. MFA Wealth Advisors LLC grew its holdings 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 buying an additional 20 shares during the last quarter. Finally, West Financial Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter worth about $39,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Trading Up 0.2 %

NYSE:BLK opened at $1,020.19 on Friday. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. 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 firm’s 50 day moving average is $1,024.23 and its 200 day moving average is $953.90. The stock has a market capitalization of $158.01 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the firm earned $9.66 EPS. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. Sell-side analysts expect that BlackRock, Inc. will post 47.43 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 given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is currently 48.57%.

Insider Activity at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of BlackRock stock in a transaction dated Tuesday, January 21st. The shares were 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 $69,117,330. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,190 shares of company stock worth $104,436,741. 0.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. 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, January 13th. StockNews.com initiated coverage on BlackRock in a report on Friday. They set a “hold” rating for the company. Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Barclays reduced their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.