BlackRock, Inc. (NYSE:BLK) Stock Position Lifted by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 42.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 444 shares of the asset manager’s stock after acquiring an additional 133 shares during the quarter. Clear Creek Financial Management LLC’s holdings in BlackRock were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Marino Stram & Associates LLC lifted its stake in BlackRock by 0.3% in 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 period. Fidelity D & D Bancorp Inc. boosted its stake in BlackRock by 3.7% during the 3rd 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 raised its holdings in 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 purchasing an additional 11 shares during the period. Ballentine Partners LLC grew its holdings in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after buying an additional 11 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in BlackRock by 0.4% during the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock worth $2,829,000 after acquiring an additional 11 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the completion of the sale, the director now owns 68,433 shares in the company, valued at $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,190 shares of company stock worth $115,163,141. 0.90% of the stock is owned by insiders.

BlackRock Stock Performance

Shares of BLK stock opened at $1,075.83 on Monday. The stock has a market cap of $166.63 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.90 and a beta of 1.28. The company has a fifty day moving average price of $1,026.43 and a two-hundred day moving average price of $963.00. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. 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 (NYSE:BLK) last announced its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the business earned $9.66 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 47.45 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 issued a $5.21 dividend. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, March 7th. BlackRock’s payout ratio is currently 48.57%.

Analysts Set New Price Targets

BLK has been the topic of several recent analyst reports. 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 report on Thursday, January 16th. UBS Group increased their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their price objective 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. TD Cowen boosted their price target on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Barclays dropped their target price 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,120.67.

About BlackRock

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.