Marble Wealth LLC Buys New Position in BlackRock $BLK

Marble Wealth LLC bought a new stake in BlackRock (NYSE:BLKFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 788 shares of the asset manager’s stock, valued at approximately $844,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its position in shares of BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after purchasing an additional 296 shares during the last quarter. Bison Wealth LLC increased its position in shares of BlackRock by 1.6% during the 4th quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 17 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $259,000. Nebula Research & Development LLC acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $548,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of BlackRock during the 2nd quarter worth approximately $98,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Key BlackRock News

Here are the key news stories impacting BlackRock this week:

Analysts Set New Price Targets

Several research firms have weighed in on BLK. The Goldman Sachs Group boosted their price target on BlackRock from $1,181.00 to $1,313.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. TD Cowen lowered their price target on BlackRock from $1,238.00 to $1,105.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Barclays lifted their target price on BlackRock from $1,290.00 to $1,310.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. reduced their target price on BlackRock from $1,269.00 to $1,128.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. Finally, BMO Capital Markets lifted their target price on BlackRock from $1,200.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and an average target price of $1,269.06.

Get Our Latest Research Report on BLK

Insider Buying and Selling at BlackRock

In related news, President Robert Kapito sold 8,739 shares of the business’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $1,056.60, for a total value of $9,233,627.40. Following the completion of the sale, the president directly owned 210,186 shares in the company, valued at $222,082,527.60. The trade was a 3.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Laurence Fink sold 33,900 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $1,050.55, for a total value of $35,613,645.00. Following the completion of the sale, the chief executive officer owned 230,516 shares of the company’s stock, valued at $242,168,583.80. This trade represents a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.92% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE BLK opened at $991.94 on Thursday. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.34. BlackRock has a 12 month low of $917.39 and a 12 month high of $1,219.94. The stock has a 50 day moving average of $1,032.33 and a 200-day moving average of $1,051.99. The company has a market capitalization of $153.98 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.33 and a beta of 1.42.

BlackRock (NYSE:BLKGet Free Report) last issued its earnings results on Tuesday, April 14th. The asset manager reported $12.53 EPS for the quarter, topping the consensus estimate of $12.40 by $0.13. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $6.56 billion. BlackRock had a return on equity of 14.74% and a net margin of 24.40%.The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period in the previous year, the company posted $9.64 EPS. As a group, equities research analysts predict that BlackRock will post 52.8 EPS for the current year.

BlackRock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Friday, June 5th will be paid a $5.73 dividend. The ex-dividend date is Friday, June 5th. This represents a $22.92 annualized dividend and a yield of 2.3%. BlackRock’s payout ratio is 57.53%.

About BlackRock

(Free Report)

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.

Further Reading

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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