Elevation Wealth Partners LLC Purchases Shares of 97 BlackRock, Inc. (NYSE:BLK)

Elevation Wealth Partners LLC purchased a new stake in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 97 shares of the asset manager’s stock, valued at approximately $99,000.

A number of other hedge funds have also bought and sold shares of the stock. Canvas Wealth Advisors LLC acquired a new position in BlackRock during the 4th quarter valued at approximately $230,000. Angeles Wealth Management LLC purchased a new stake in shares of BlackRock in the 4th quarter valued at $841,000. Liberty Capital Management Inc. purchased a new stake in shares of BlackRock in the 4th quarter valued at $2,382,000. Activest Wealth Management boosted its holdings in shares of BlackRock by 87.1% in the 4th quarter. Activest Wealth Management now owns 131 shares of the asset manager’s stock valued at $135,000 after acquiring an additional 61 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of BlackRock in the 4th quarter valued at $694,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This trade represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,190 shares of company stock worth $115,163,141 over the last three months. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on BLK shares. StockNews.com started coverage on shares of BlackRock in a report on Sunday. They issued a “hold” rating on the stock. UBS Group upped their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Wells Fargo & Company increased their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley increased their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Citigroup increased their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Stock Performance

NYSE:BLK opened at $991.95 on Monday. 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 company has a fifty day moving average of $1,024.93 and a two-hundred day moving average of $968.98. The stock has a market capitalization of $153.63 billion, a PE ratio of 23.62, a P/E/G ratio of 1.93 and a beta of 1.28. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $9.66 earnings per share. As a group, research analysts forecast that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be given a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is 48.57%.

BlackRock Company 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.