Narwhal Capital Management Acquires New Shares in BlackRock, Inc. (NYSE:BLK)

Narwhal Capital Management bought a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, HoldingsChannel reports. The fund bought 21,714 shares of the asset manager’s stock, valued at approximately $22,260,000. BlackRock comprises 2.0% of Narwhal Capital Management’s portfolio, making the stock its 11th largest position.

Other large investors also recently modified their holdings of the company. Marino Stram & Associates LLC increased its stake in BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after purchasing an additional 10 shares in the last quarter. Fidelity D & D Bancorp Inc. increased its position in shares of BlackRock by 3.7% during the third quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after acquiring an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its holdings in shares of BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after acquiring an additional 11 shares during the period. Ballentine Partners LLC lifted its position in BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after acquiring an additional 11 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in BlackRock by 0.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after purchasing an additional 11 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BLK shares. UBS Group upped their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. TD Cowen boosted their price objective on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods decreased their target price on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group increased their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Buying and Selling

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 68,433 shares in the company, valued at approximately $69,117,330. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,190 shares of company stock worth $104,436,741 in the last ninety days. 0.90% of the stock is owned by insiders.

BlackRock Stock Up 0.2 %

BLK stock opened at $1,020.19 on Monday. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The company has a market cap 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. The business has a 50-day simple moving average of $1,024.23 and a 200 day simple moving average of $954.96.

BlackRock (NYSE:BLK) last posted its quarterly earnings results 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 net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the business posted $9.66 EPS. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. Sell-side analysts anticipate that BlackRock, Inc. will post 47.43 EPS for the current fiscal 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 dividend of $5.10 per share. The ex-dividend date of this dividend 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 currently 48.57%.

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.