GSB Wealth Management LLC Invests $207,000 in BlackRock, Inc. (NYSE:BLK)

GSB Wealth Management LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 202 shares of the asset manager’s stock, valued at approximately $207,000.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in BlackRock by 0.7% during the 3rd quarter. State Street Corp now owns 5,983,583 shares of the asset manager’s stock worth $5,681,472,000 after purchasing an additional 42,757 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $2,663,330,000 after purchasing an additional 30,182 shares during the period. FMR LLC increased its position in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock valued at $2,244,608,000 after buying an additional 226,135 shares in the last quarter. Fisher Asset Management LLC boosted its stake in BlackRock by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 2,192,247 shares of the asset manager’s stock worth $2,081,561,000 after buying an additional 40,865 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in BlackRock by 89,389.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after acquiring an additional 1,044,962 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BLK. TD Cowen boosted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods decreased their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Morgan Stanley increased their target price on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup boosted their target price 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, StockNews.com began coverage on BlackRock in a research note on Friday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Trading Up 0.2 %

Shares of NYSE:BLK opened at $1,020.19 on Friday. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The company has a market capitalization of $158.01 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. The business’s 50 day simple moving average is $1,024.23 and its 200 day simple moving average is $953.90.

BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the business posted $9.66 EPS. On average, research analysts anticipate that BlackRock, Inc. will post 47.43 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors 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 dividend on an annualized basis and a dividend yield of 2.00%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Insider Buying and Selling at BlackRock

In related news, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the completion of the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,190 shares of company stock valued at $104,436,741 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

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.