BlackRock, Inc. (NYSE:BLK) Shares Sold by Everhart Financial Group Inc.

Everhart Financial Group Inc. reduced its position in BlackRock, Inc. (NYSE:BLK) by 72.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197 shares of the asset manager’s stock after selling 523 shares during the quarter. Everhart Financial Group Inc.’s holdings in BlackRock were worth $202,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. TigerOak Management L.L.C. purchased a new stake in shares of BlackRock during the fourth quarter worth $1,815,000. Roxbury Financial LLC purchased a new stake in BlackRock during the 4th quarter worth about $784,000. Myriad Asset Management US LP acquired a new position in BlackRock in the fourth quarter valued at approximately $2,159,000. Nations Financial Group Inc. IA ADV boosted its holdings in shares of BlackRock by 2.6% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 4,051 shares of the asset manager’s stock valued at $4,153,000 after buying an additional 102 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC purchased a new position in shares of BlackRock in the 4th quarter valued at $343,000. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 owns 41,916 shares in the company, valued at $43,845,393.48. This represents a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,190 shares of company stock worth $115,163,141. 0.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BLK has been the subject of several research reports. Citigroup boosted their target price on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Barclays dropped their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. increased their target price on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. StockNews.com assumed coverage on shares of BlackRock in a research report on Monday. They set a “hold” rating on the stock. Finally, 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 research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Stock Performance

NYSE BLK opened at $973.22 on Tuesday. 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 has a market capitalization of $150.73 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The business’s 50-day moving average price is $1,019.28 and its 200 day moving average price is $974.18. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22.

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, beating analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. BlackRock’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the business earned $9.66 EPS. On average, research analysts predict that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be given a dividend of $5.21 per share. This represents a $20.84 dividend on an annualized basis and a yield of 2.14%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. BlackRock’s dividend payout ratio is 49.62%.

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.