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

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

Other institutional investors have also added to or reduced their stakes in the company. Bfsg LLC bought a new position in BlackRock in the 4th quarter worth $79,000. Braun Stacey Associates Inc. raised its holdings in BlackRock by 0.8% in the 4th quarter. Braun Stacey Associates Inc. now owns 24,014 shares of the asset manager’s stock worth $24,617,000 after purchasing an additional 190 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in BlackRock by 903.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 8,997 shares of the asset manager’s stock worth $9,223,000 after purchasing an additional 8,100 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in BlackRock by 1.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 1,176 shares of the asset manager’s stock worth $1,206,000 after purchasing an additional 21 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in BlackRock by 18.5% in the 4th quarter. Venturi Wealth Management LLC now owns 1,806 shares of the asset manager’s stock worth $1,852,000 after purchasing an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.3 %

NYSE:BLK opened at $976.84 on Wednesday. The firm has a market cap of $151.29 billion, a P/E ratio of 23.26, a P/E/G ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22. The firm has a 50-day simple moving average of $1,016.16 and a two-hundred day simple moving average of $975.86.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $9.66 EPS. Analysts predict that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BLK. JPMorgan Chase & Co. upped their price objective on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. UBS Group increased their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. 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 research note on Monday, December 23rd. Finally, 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 research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 41,916 shares in the company, 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. Insiders have sold a total of 110,190 shares of company stock valued at $115,163,141 in the last 90 days. 0.90% of the stock is currently owned by insiders.

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.