Flywheel Private Wealth LLC Buys Shares of 480 BlackRock, Inc. (NYSE:BLK)

Flywheel Private Wealth LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 480 shares of the asset manager’s stock, valued at approximately $492,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BLK. Oddo BHF Asset Management Sas purchased a new position in BlackRock in the third quarter worth approximately $518,000. Erste Asset Management GmbH acquired a new position in shares of BlackRock in the 3rd quarter valued at $32,904,000. Raymond James Trust N.A. increased its position in shares of BlackRock by 2.3% during the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after purchasing an additional 614 shares during the last quarter. MML Investors Services LLC raised its holdings in BlackRock by 2.8% in the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock valued at $65,010,000 after buying an additional 1,852 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in BlackRock by 20.4% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock valued at $3,169,000 after buying an additional 565 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the sale, the director now owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

BlackRock Stock Performance

Shares of BLK opened at $1,012.62 on Thursday. The stock has a 50-day simple moving average of $1,029.20 and a 200-day simple moving average of $943.81. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year high of $1,082.45. The stock has a market capitalization of $156.83 billion, a PE ratio of 24.99, a PEG ratio of 1.53 and a beta of 1.28.

BlackRock (NYSE:BLK) last posted its quarterly earnings results 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 31.37% and a return on equity of 15.52%. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the business posted $9.66 EPS. The firm’s revenue was up 22.6% on a year-over-year basis. On average, analysts predict that BlackRock, Inc. will post 43.02 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were paid a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, December 5th. BlackRock’s dividend payout ratio is presently 50.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BLK shares. Citigroup lifted 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. Evercore ISI boosted their target price on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley upped their price target on BlackRock from $1,245.00 to $1,261.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Barclays dropped their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Keefe, Bruyette & Woods lowered their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,100.50.

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.