London Co. of Virginia trimmed its position in shares of BlackRock, Inc. (NYSE:BLK) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 727,550 shares of the asset manager’s stock after selling 54,835 shares during the period. BlackRock comprises approximately 2.7% of London Co. of Virginia’s portfolio, making the stock its 8th biggest holding. London Co. of Virginia owned about 0.46% of BlackRock worth $285,796,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. WESPAC Advisors SoCal LLC bought a new position in BlackRock during the fourth quarter valued at about $25,000. Hanson McClain Inc. raised its holdings in BlackRock by 425.0% during the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock valued at $25,000 after buying an additional 51 shares in the last quarter. Private Ocean LLC raised its holdings in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock valued at $28,000 after buying an additional 62 shares in the last quarter. Evolution Wealth Advisors LLC bought a new position in BlackRock during the fourth quarter valued at about $33,000. Finally, Highwater Wealth Management LLC bought a new position in BlackRock during the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 82.09% of the company’s stock.
BLK stock traded up $1.25 during trading on Thursday, reaching $433.09. 5,946 shares of the stock were exchanged, compared to its average volume of 498,161. BlackRock, Inc. has a twelve month low of $360.79 and a twelve month high of $573.47. The company has a market cap of $67.61 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.64.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This is an increase from BlackRock’s previous quarterly dividend of $3.13. This represents a $13.20 dividend on an annualized basis and a yield of 3.05%. BlackRock’s dividend payout ratio (DPR) is 49.02%.
Several equities analysts have weighed in on the company. Barclays raised their target price on BlackRock from $472.00 to $490.00 and gave the company an “overweight” rating in a report on Thursday. Bank of America reaffirmed a “buy” rating and issued a $498.00 price target (up from $490.00) on shares of BlackRock in a research report on Friday, March 8th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Morgan Stanley set a $515.00 price target on BlackRock and gave the company a “buy” rating in a research report on Friday, February 8th. Finally, Jefferies Financial Group raised BlackRock from a “hold” rating to a “buy” rating and set a $405.36 price target on the stock in a research report on Tuesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $496.49.
In related news, insider J. Richard Kushel sold 3,077 shares of BlackRock stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $409.29, for a total transaction of $1,259,385.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert L. Goldstein sold 5,133 shares of BlackRock stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $443.00, for a total value of $2,273,919.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,650 shares of company stock worth $57,774,089. 1.75% of the stock is owned by company insiders.
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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.
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