Syon Capital LLC Has $1.67 Million Stock Position in BlackRock, Inc. (NYSE:BLK)

Syon Capital LLC reduced its position in BlackRock, Inc. (NYSE:BLK) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,629 shares of the asset manager’s stock after selling 35 shares during the period. Syon Capital LLC’s holdings in BlackRock were worth $1,670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. IAG Wealth Partners LLC acquired a new position in BlackRock in the fourth quarter worth approximately $26,000. Collier Financial acquired a new position in shares of BlackRock during the 4th quarter worth $32,000. Compass Planning Associates Inc bought a new position in shares of BlackRock during the 4th quarter valued at $33,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock in the 4th quarter valued at $36,000. Finally, West Financial Advisors LLC bought a new stake in BlackRock in the fourth quarter worth $39,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

BlackRock Price Performance

Shares of NYSE:BLK opened at $887.84 on Wednesday. The firm has a market capitalization of $137.84 billion, a PE ratio of 21.14, a PEG ratio of 1.90 and a beta of 1.38. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1-year low of $748.02 and a 1-year high of $1,084.22. The business’s 50 day moving average is $926.10 and its 200-day moving average is $984.56.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.84 by $0.46. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.81 EPS. Sell-side analysts predict that BlackRock, Inc. will post 47.41 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Friday, March 7th were given a dividend of $5.21 per share. This represents a $20.84 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is 50.63%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BLK shares. UBS Group cut their target price on BlackRock from $1,045.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on BlackRock from $1,046.00 to $988.00 and set a “neutral” rating for the company in a report on Monday, April 14th. 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. TD Cowen decreased their price objective on shares of BlackRock from $1,251.00 to $1,032.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, StockNews.com started coverage on shares of BlackRock in a report on Tuesday. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,077.08.

Insider Buying and Selling at BlackRock

In related news, Director J. Richard Kushel sold 430 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the completion of the sale, the director now owns 3,720 shares in the company, valued at $3,531,656.40. This trade represents a 10.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.98% of the company’s stock.

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.