Concurrent Investment Advisors LLC Acquires Shares of 4,289 BlackRock, Inc. (NYSE:BLK)

Concurrent Investment Advisors LLC bought a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,289 shares of the asset manager’s stock, valued at approximately $4,397,000.

Other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB increased its position in shares of BlackRock by 16.6% in the fourth quarter. Handelsbanken Fonder AB now owns 55,038 shares of the asset manager’s stock valued at $56,420,000 after acquiring an additional 7,821 shares during the period. Wealth Alliance grew its stake in shares of BlackRock by 2.0% in the fourth quarter. Wealth Alliance now owns 669 shares of the asset manager’s stock worth $686,000 after purchasing an additional 13 shares during the last quarter. Sunpointe LLC purchased a new position in BlackRock during the 4th quarter valued at about $203,000. Emerald Advisors LLC raised its position in BlackRock by 1.9% during the 4th quarter. Emerald Advisors LLC now owns 1,255 shares of the asset manager’s stock valued at $1,286,000 after purchasing an additional 23 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC lifted its holdings in BlackRock by 23.9% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 13,310 shares of the asset manager’s stock worth $13,644,000 after buying an additional 2,569 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were 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 in the company, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the business’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 completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. This trade represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock valued at $115,163,141 over the last quarter. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

NYSE BLK opened at $990.47 on Friday. The company has a market cap of $153.40 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.88 and a beta of 1.28. The business’s 50 day moving average price is $1,013.24 and its 200-day moving average price is $976.04. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23.

BlackRock (NYSE:BLK) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the firm earned $9.66 earnings per share. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. Sell-side analysts predict that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be issued a $5.21 dividend. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. BlackRock’s payout ratio is presently 48.57%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BLK shares. Morgan Stanley boosted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup boosted their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. UBS Group raised their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their target price on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

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.