Verity & Verity LLC Makes New Investment in BlackRock, Inc. (NYSE:BLK)

Verity & Verity LLC purchased a new position in shares of BlackRock, Inc. (NYSE:BLKGet Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,116 shares of the asset manager’s stock, valued at approximately $791,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grimes & Company Inc. raised its stake in shares of BlackRock by 1.9% in the third quarter. Grimes & Company Inc. now owns 944 shares of the asset manager’s stock valued at $519,000 after acquiring an additional 18 shares during the last quarter. Ledyard National Bank raised its stake in shares of BlackRock by 5.3% in the third quarter. Ledyard National Bank now owns 1,115 shares of the asset manager’s stock valued at $614,000 after acquiring an additional 56 shares during the last quarter. Continental Investors Services Inc. bought a new position in shares of BlackRock in the third quarter valued at approximately $377,000. LVM Capital Management Ltd. MI raised its stake in shares of BlackRock by 10.2% in the third quarter. LVM Capital Management Ltd. MI now owns 389 shares of the asset manager’s stock valued at $214,000 after acquiring an additional 36 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. raised its stake in shares of BlackRock by 6.1% in the third quarter. Laurel Wealth Advisors Inc. now owns 735 shares of the asset manager’s stock valued at $404,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 77.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BLK shares. StockNews.com started coverage on shares of BlackRock in a research note on Thursday. They issued a “hold” rating for the company. Bank of America cut their target price on shares of BlackRock from $821.00 to $813.00 in a research note on Sunday, January 15th. Wells Fargo & Company began coverage on shares of BlackRock in a report on Wednesday, December 14th. They issued an “overweight” rating and a $820.00 price target for the company. Morgan Stanley raised their price target on shares of BlackRock from $785.00 to $828.00 and gave the company an “overweight” rating in a report on Tuesday, January 17th. Finally, Credit Suisse Group raised their price target on shares of BlackRock from $540.00 to $680.00 and gave the company a “neutral” rating in a report on Thursday, January 12th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $740.92.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 1,075 shares of BlackRock stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $749.89, for a total transaction of $806,131.75. Following the transaction, the director now directly owns 8,682 shares of the company’s stock, valued at $6,510,544.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Stephen Cohen sold 1,149 shares of BlackRock stock in a transaction on Monday, January 30th. The shares were sold at an average price of $753.46, for a total transaction of $865,725.54. Following the transaction, the director now directly owns 4,135 shares of the company’s stock, valued at $3,115,557.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark Wiedman sold 1,075 shares of BlackRock stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $749.89, for a total transaction of $806,131.75. Following the transaction, the director now directly owns 8,682 shares in the company, valued at $6,510,544.98. The disclosure for this sale can be found here. Insiders have sold a total of 4,839 shares of company stock valued at $3,578,947 over the last three months. 1.06% of the stock is currently owned by corporate insiders.

BlackRock Price Performance

BLK opened at $636.71 on Friday. The company has a fifty day moving average price of $714.75 and a two-hundred day moving average price of $680.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.99 and a current ratio of 2.99. BlackRock, Inc. has a 52 week low of $503.12 and a 52 week high of $788.65. The firm has a market capitalization of $95.66 billion, a PE ratio of 18.75, a P/E/G ratio of 2.12 and a beta of 1.28.

BlackRock (NYSE:BLKGet Rating) last released its earnings results on Friday, January 13th. The asset manager reported $8.93 EPS for the quarter, topping analysts’ consensus estimates of $7.99 by $0.94. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.16 billion. BlackRock had a net margin of 28.97% and a return on equity of 14.38%. As a group, analysts anticipate that BlackRock, Inc. will post 34.84 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Tuesday, March 7th will be given a dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 3.14%. This is a boost from BlackRock’s previous quarterly dividend of $4.88. The ex-dividend date is Monday, March 6th. BlackRock’s dividend payout ratio (DPR) is currently 58.91%.

About BlackRock

(Get Rating)

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Susan L.

Read More

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLKGet Rating).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.