1834 Investment Advisors Co. Decreases Holdings in BlackRock, Inc. (NYSE:BLK)

1834 Investment Advisors Co. cut its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 658 shares of the asset manager’s stock after selling 46 shares during the quarter. 1834 Investment Advisors Co.’s holdings in BlackRock were worth $675,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the sale, the director now owns 68,433 shares of the company’s stock, valued at approximately $69,117,330. The trade was a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated 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 sale, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. 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 ninety days. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Morgan Stanley lifted 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. JPMorgan Chase & Co. lifted their price target on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Evercore ISI increased their price objective on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Citigroup upped their price target on shares of BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Price Performance

Shares of NYSE BLK opened at $1,020.19 on Friday. The company has a market capitalization of $158.01 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23. BlackRock, Inc. has a 1-year low of $745.55 and a 1-year high of $1,082.45. The business has a 50-day moving average of $1,024.23 and a 200-day moving average of $953.90.

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 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 company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter last year, the company earned $9.66 earnings per share. BlackRock’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities analysts anticipate that BlackRock, Inc. will post 47.43 EPS for the current fiscal year.

BlackRock Dividend Announcement

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

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.