RFG Bristol Wealth Advisors LLC Purchases New Holdings in BlackRock, Inc. (NYSE:BLK)

RFG Bristol Wealth Advisors LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 775 shares of the asset manager’s stock, valued at approximately $794,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in BlackRock in the third quarter valued at about $26,000. IAG Wealth Partners LLC acquired a new position in shares of BlackRock in the 4th quarter valued at approximately $26,000. Collier Financial bought a new stake in shares of BlackRock during the 4th quarter worth approximately $32,000. Compass Planning Associates Inc acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $33,000. Finally, Atwood & Palmer Inc. bought a new position in BlackRock in the fourth quarter valued at approximately $36,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 20,430 shares of company stock valued at $21,234,629. 0.90% of the stock is currently owned by insiders.

BlackRock Stock Performance

Shares of BlackRock stock opened at $944.75 on Wednesday. The stock has a market cap of $146.68 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 1.90 and a beta of 1.28. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,084.22. The company’s fifty day moving average is $976.19 and its 200 day moving average is $993.09.

BlackRock (NYSE:BLK) last released 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 firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.66 EPS. Sell-side analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a $5.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from BlackRock’s previous quarterly dividend of $5.10. BlackRock’s payout ratio is 49.62%.

Analyst Ratings Changes

BLK has been the subject of several recent analyst reports. Citigroup upped their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. UBS Group raised their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com started coverage on shares of BlackRock in a research note on Saturday. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, BlackRock presently has a consensus 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.