Glassy Mountain Advisors Inc. Acquires Shares of 5,465 BlackRock, Inc. (NYSE:BLK)

Glassy Mountain Advisors Inc. acquired a new stake in BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,465 shares of the asset manager’s stock, valued at approximately $5,602,000. BlackRock makes up approximately 1.9% of Glassy Mountain Advisors Inc.’s holdings, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also modified their holdings of BLK. Pathway Financial Advisers LLC increased its stake in shares of BlackRock by 89,389.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,046,131 shares of the asset manager’s stock worth $993,312,000 after purchasing an additional 1,044,962 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of BlackRock by 104,468.9% during the third quarter. International Assets Investment Management LLC now owns 792,632 shares of the asset manager’s stock worth $7,526,120,000 after purchasing an additional 791,874 shares in the last quarter. Montrusco Bolton Investments Inc. purchased a new stake in shares of BlackRock during the fourth quarter worth about $343,976,000. Assenagon Asset Management S.A. purchased a new stake in shares of BlackRock during the fourth quarter worth about $330,662,000. Finally, FMR LLC boosted its position in BlackRock by 10.6% during the third quarter. FMR LLC now owns 2,363,965 shares of the asset manager’s stock worth $2,244,608,000 after acquiring an additional 226,135 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 110,190 shares of company stock worth $115,163,141 in the last ninety days. 0.90% of the stock is owned by corporate insiders.

BlackRock Stock Performance

NYSE:BLK opened at $1,005.99 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. The stock has a market capitalization of $155.81 billion, a P/E ratio of 23.95, a PEG ratio of 2.06 and a beta of 1.28. The company has a 50 day moving average price of $1,025.82 and a 200 day moving average price of $966.82. 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 released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping 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%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $9.66 EPS. Equities research analysts forecast that BlackRock, Inc. will post 47.45 EPS for the current year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be issued a dividend of $5.21 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.07%. BlackRock’s dividend payout ratio is 48.57%.

Analysts Set New Price Targets

BLK has been the topic of a number of recent research reports. TD Cowen boosted their price target on shares of BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lowered 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 report on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on shares of BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Evercore ISI boosted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com assumed coverage on shares of BlackRock in a research report on Saturday, February 1st. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.