Goelzer Investment Management Inc. Invests $523,000 in BlackRock, Inc. (NYSE:BLK)

Goelzer Investment Management Inc. purchased a new stake in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 510 shares of the asset manager’s stock, valued at approximately $523,000.

Several other large investors have also recently bought and sold shares of the stock. FSA Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter worth about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock in the fourth quarter valued at approximately $36,000. Reston Wealth Management LLC bought a new stake in shares of BlackRock in the third quarter valued at approximately $37,000. MFA Wealth Advisors LLC increased its stake in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares during the period. Finally, West Financial Advisors LLC acquired a new position in BlackRock in the 4th quarter valued at $39,000. 80.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup raised their price target on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Wells Fargo & Company boosted their target price on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group lifted their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Barclays reduced their target price on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

BlackRock stock opened at $1,020.19 on Friday. The stock has a 50-day moving average price of $1,024.23 and a two-hundred day moving average price of $953.90. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45. The company has a market capitalization of $158.01 billion, a PE ratio of 24.29, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45.

BlackRock (NYSE:BLK) last issued its quarterly earnings data 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. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the business earned $9.66 EPS. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. Analysts expect that BlackRock, Inc. will post 47.43 EPS for the current year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were issued a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.00%. BlackRock’s payout ratio is 48.57%.

Insider Buying and Selling

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 68,433 shares in the company, valued at approximately $69,117,330. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer now directly owns 41,916 shares in the company, valued at approximately $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,190 shares of company stock valued at $104,436,741 in the last three months. Insiders own 0.90% of the company’s stock.

About BlackRock

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.