Elevation Wealth Partners LLC Invests $99,000 in BlackRock, Inc. (NYSE:BLK)

Elevation Wealth Partners LLC bought a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 97 shares of the asset manager’s stock, valued at approximately $99,000.

A number of other hedge funds also recently made changes to their positions in BLK. Pathway Financial Advisers LLC lifted its position in shares of BlackRock by 89,389.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after buying an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of BlackRock by 104,468.9% in the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after buying an additional 791,874 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in shares of BlackRock in the fourth quarter worth about $343,976,000. Assenagon Asset Management S.A. purchased a new stake in shares of BlackRock in the fourth quarter worth about $330,662,000. Finally, FMR LLC lifted its position in shares of BlackRock by 10.6% in the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after buying an additional 226,135 shares in the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

Shares of BlackRock stock opened at $991.95 on Monday. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average price is $1,024.93 and its 200-day moving average price is $968.98. The firm has a market cap of $153.63 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.93 and a beta of 1.28. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,084.22.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate 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 in the previous year, the business posted $9.66 EPS. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, equities research analysts expect that BlackRock, Inc. will post 47.44 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a $5.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.10%. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is currently 48.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group upped their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research report on Tuesday, January 21st. StockNews.com assumed coverage on BlackRock in a research report on Sunday. They set a “hold” rating on the stock. JPMorgan Chase & Co. upped their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Finally, Barclays decreased their price objective on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Activity

In related news, Director Mark Wiedman sold 36,190 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 6,480 shares in the company, valued at $6,777,432. The trade was a 84.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,190 shares of company stock worth $115,163,141. 0.90% of the stock is currently owned by corporate insiders.

BlackRock 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.