Transform Wealth LLC Takes Position in BlackRock, Inc. (NYSE:BLK)

Transform Wealth LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 205 shares of the asset manager’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AE Wealth Management LLC lifted its holdings in shares of BlackRock by 19.9% during the 2nd quarter. AE Wealth Management LLC now owns 1,162 shares of the asset manager’s stock worth $915,000 after acquiring an additional 193 shares during the last quarter. Pacer Advisors Inc. raised its position in BlackRock by 5.5% during the second quarter. Pacer Advisors Inc. now owns 9,941 shares of the asset manager’s stock valued at $7,827,000 after purchasing an additional 522 shares in the last quarter. ProShare Advisors LLC lifted its stake in BlackRock by 4.7% during the second quarter. ProShare Advisors LLC now owns 28,358 shares of the asset manager’s stock worth $22,327,000 after purchasing an additional 1,276 shares during the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of BlackRock by 6,300.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 576 shares of the asset manager’s stock worth $453,000 after purchasing an additional 567 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of BlackRock by 5.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 482 shares of the asset manager’s stock valued at $379,000 after purchasing an additional 24 shares during the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at $43,845,393.48. This represents a 56.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of BlackRock stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on BLK shares. Citigroup upped their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. increased their target price on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. UBS Group boosted 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. Morgan Stanley raised their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their target price on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Trading Up 0.7 %

NYSE BLK opened at $1,011.87 on Wednesday. The stock has a market cap of $156.72 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,082.45. The stock has a 50 day simple moving average of $1,026.34 and a two-hundred day simple moving average of $949.91. 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 (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the firm posted $9.66 earnings per share. On average, analysts forecast that BlackRock, Inc. will post 47.23 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio is currently 48.57%.

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.