Accelerate Investment Advisors LLC Invests $246,000 in BlackRock, Inc. (NYSE:BLK)

Accelerate Investment Advisors LLC bought a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 240 shares of the asset manager’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in BlackRock during the 3rd quarter worth $26,000. Fairscale Capital LLC acquired a new position in shares of BlackRock during the second quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock during the third quarter worth approximately $37,000. MFA Wealth Advisors LLC raised its holdings in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. Finally, Modus Advisors LLC purchased a new position in BlackRock in the fourth quarter worth approximately $48,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Stock Performance

NYSE BLK traded down $0.79 during trading on Monday, reaching $954.85. The company’s stock had a trading volume of 485,272 shares, compared to its average volume of 687,191. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The firm has a market cap of $147.89 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 1.92 and a beta of 1.28. The business’s fifty day moving average price is $1,030.97 and its 200-day moving average price is $941.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating the consensus estimate of $10.42 by $1.04. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $10.91 EPS. As a group, analysts anticipate that BlackRock, Inc. will post 43.18 EPS for the current fiscal year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given 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 2.14%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLK shares. Evercore ISI raised their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday. Barclays lowered their price target on BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday. Finally, The Goldman Sachs Group raised their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,083.92.

Insider Buying and Selling at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock 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 value of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the firm’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 value of $37,851,121.00. Following the completion of the sale, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. This 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 currently owned by corporate insiders.

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.