Money Concepts Capital Corp Has $1.16 Million Holdings in BlackRock, Inc. (NYSE:BLK)

Money Concepts Capital Corp decreased its position in BlackRock, Inc. (NYSE:BLK) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,135 shares of the asset manager’s stock after selling 37 shares during the period. Money Concepts Capital Corp’s holdings in BlackRock were worth $1,163,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in BlackRock in the 3rd quarter valued at approximately $26,000. Atwood & Palmer Inc. bought a new stake in shares of BlackRock in the fourth quarter worth $36,000. Reston Wealth Management LLC acquired a new position in BlackRock during the third quarter worth $37,000. MFA Wealth Advisors LLC grew its position in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. Finally, West Financial Advisors LLC acquired a new stake in BlackRock in the 4th quarter valued at $39,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLK has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lowered their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company upped their price objective on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley upped their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Three equities research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

BlackRock Price Performance

Shares of BLK opened at $1,014.43 on Thursday. The firm has a market capitalization of $157.11 billion, a PE ratio of 24.15, a PEG ratio of 2.06 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. The company’s 50-day moving average is $1,025.92 and its 200-day moving average is $966.48. BlackRock, Inc. has a fifty-two week low of $745.55 and a fifty-two week high of $1,084.22.

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, topping the consensus estimate of $11.52 by $0.41. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the business posted $9.66 earnings per share. Equities analysts forecast that BlackRock, Inc. will post 47.45 EPS for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a dividend of $5.21 per share. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date is Friday, March 7th. This represents a $20.84 annualized dividend and a yield of 2.05%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

Insider Transactions at BlackRock

In related 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 value of $10,726,400.00. Following the completion of the sale, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 41,916 shares in the company, valued at approximately $43,845,393.48. This trade represents a 56.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,190 shares of company stock valued at $115,163,141. 0.90% of the stock is currently owned by corporate insiders.

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.