Mitchell & Pahl Private Wealth LLC Buys 92 Shares of BlackRock, Inc. (NYSE:BLK)

Mitchell & Pahl Private Wealth LLC increased its position in BlackRock, Inc. (NYSE:BLK) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,706 shares of the asset manager’s stock after acquiring an additional 92 shares during the quarter. BlackRock comprises about 1.3% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 15th biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in BlackRock were worth $2,774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Marino Stram & Associates LLC boosted its position in shares of BlackRock by 0.3% during the third quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock valued at $3,227,000 after buying an additional 10 shares during the last quarter. Fidelity D & D Bancorp Inc. boosted its holdings in shares of BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock valued at $263,000 after acquiring an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its stake in shares of BlackRock by 3.5% in the third quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after acquiring an additional 11 shares during the period. Ballentine Partners LLC raised its holdings in shares of BlackRock by 0.3% during the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after purchasing an additional 11 shares during the period. Institutional investors own 80.69% of the company’s stock.

BlackRock Stock Up 0.9 %

Shares of BLK stock opened at $1,004.23 on Tuesday. The company has a market capitalization of $155.54 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.53 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The company’s fifty day moving average price is $1,027.33 and its 200-day moving average price is $948.40. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 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 analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the firm earned $9.66 earnings per share. Sell-side analysts expect that BlackRock, Inc. will post 43.02 EPS for the current fiscal year.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders 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 2.03%. The ex-dividend date was Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

Insider Transactions 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 $43,845,393.48. The trade was a 56.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the 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 transaction, the director now 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. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on BLK. Barclays cut their target price on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Keefe, Bruyette & Woods reduced their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. raised their target price on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Wells Fargo & Company upped their price target 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. Finally, Citigroup raised their price objective on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,103.33.

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.