Triad Wealth Partners LLC Invests $528,000 in BlackRock, Inc. (NYSE:BLK)

Triad Wealth Partners LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, Holdings Channel reports. The firm purchased 515 shares of the asset manager’s stock, valued at approximately $528,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new position in shares of BlackRock during the third quarter worth approximately $518,000. Amalgamated Bank grew its position in BlackRock by 1.7% during the 4th quarter. Amalgamated Bank now owns 28,711 shares of the asset manager’s stock worth $29,432,000 after purchasing an additional 489 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of BlackRock in the third quarter valued at about $32,904,000. Oregon Public Employees Retirement Fund boosted its stake in shares of BlackRock by 4.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 12,480 shares of the asset manager’s stock worth $12,793,000 after buying an additional 578 shares during the period. Finally, Raymond James Trust N.A. grew its holdings in shares of BlackRock by 2.3% during the third quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after buying an additional 614 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group increased 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. StockNews.com assumed coverage on shares of BlackRock in a research report on Wednesday. They issued a “hold” rating on the stock. Barclays cut their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Citigroup lifted their target price on shares of BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

Insider Activity 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 stock was 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. This represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 430 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the sale, the director now directly owns 3,720 shares in the company, valued at approximately $3,531,656.40. The trade was a 10.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,620 shares of company stock valued at $115,571,370. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $951.24 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market cap of $147.33 billion, a PE ratio of 22.65, a P/E/G ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,084.22. The stock has a fifty day moving average price of $1,000.17 and a 200 day moving average price of $983.89.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 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 period in the previous 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 forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s payout ratio is currently 49.62%.

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.