Poinciana Advisors Group LLC Buys Shares of 253 BlackRock, Inc. (NYSE:BLK)

Poinciana Advisors Group LLC bought a new stake in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 253 shares of the asset manager’s stock, valued at approximately $259,000.

Other hedge funds have also bought and sold shares of the company. FSA Wealth Management LLC bought a new stake in BlackRock during the third quarter valued at approximately $26,000. IAG Wealth Partners LLC bought a new stake in BlackRock during the fourth quarter valued at approximately $26,000. Collier Financial bought a new stake in shares of BlackRock in the 4th quarter worth approximately $32,000. Compass Planning Associates Inc bought a new stake in shares of BlackRock in the 4th quarter worth approximately $33,000. Finally, Atwood & Palmer Inc. bought a new stake in shares of BlackRock in the 4th quarter worth approximately $36,000. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of BlackRock in a report on Thursday. They issued a “hold” rating for the company. UBS Group boosted their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Morgan Stanley boosted their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Barclays lowered their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

BlackRock Stock Up 3.1 %

Shares of BlackRock stock opened at $928.74 on Friday. 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 company’s fifty day simple moving average is $983.61 and its two-hundred day simple moving average is $985.61. The company has a market cap of $144.19 billion, a P/E ratio of 22.11, a PEG ratio of 1.90 and a beta of 1.29. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22.

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. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.66 EPS. Research analysts anticipate that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s payout ratio is presently 49.62%.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $1,072.64, for a total value of $10,726,400.00. Following the sale, the director now directly owns 68,433 shares of the company’s stock, valued at $73,403,973.12. This represents a 12.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by company 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.