C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New $2.07 Million Investment in BlackRock, Inc. (NYSE:BLK)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,018 shares of the asset manager’s stock, valued at approximately $2,069,000.

Other large investors have also made changes to their positions in the company. Marino Stram & Associates LLC grew its stake in BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares in the last quarter. Fidelity D & D Bancorp Inc. boosted its position in shares of BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after acquiring an additional 10 shares in the last quarter. Princeton Global Asset Management LLC increased its stake in BlackRock by 8.7% in the fourth quarter. Princeton Global Asset Management LLC now owns 125 shares of the asset manager’s stock valued at $128,000 after acquiring an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in BlackRock by 3.5% during the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after purchasing an additional 11 shares during the last quarter. Finally, Ballentine Partners LLC boosted its holdings in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Performance

Shares of BlackRock stock opened at $973.54 on Thursday. The stock has a market cap of $150.78 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 1.93 and a beta of 1.28. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The company’s fifty day moving average is $1,023.22 and its 200 day moving average is $971.96. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the company posted $9.66 EPS. The business’s revenue was up 22.6% on a year-over-year basis. Sell-side analysts forecast that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. 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 annualized dividend and a yield of 2.14%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of BlackRock 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 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 approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert L. Goldstein sold 54,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares in the company, valued at $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,190 shares of company stock worth $115,163,141. Company insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Citigroup increased their target price 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. Evercore ISI raised their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods cut their target price 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. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

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.