MONECO Advisors LLC Makes New Investment in BlackRock, Inc. (NYSE:BLK)

MONECO Advisors LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 250 shares of the asset manager’s stock, valued at approximately $203,000.

Several other hedge funds also recently added to or reduced their stakes in BLK. Paralel Advisors LLC grew its holdings in BlackRock by 1.2% during the 3rd quarter. Paralel Advisors LLC now owns 2,859 shares of the asset manager’s stock worth $1,848,000 after acquiring an additional 33 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in shares of BlackRock in the 3rd quarter valued at about $246,000. Glenview Trust co boosted its holdings in shares of BlackRock by 0.6% in the 3rd quarter. Glenview Trust co now owns 13,267 shares of the asset manager’s stock valued at $8,577,000 after buying an additional 73 shares during the period. Interchange Capital Partners LLC boosted its holdings in shares of BlackRock by 18.9% in the 3rd quarter. Interchange Capital Partners LLC now owns 415 shares of the asset manager’s stock valued at $268,000 after buying an additional 66 shares during the period. Finally, Rathbones Group PLC boosted its holdings in shares of BlackRock by 16.6% in the 3rd quarter. Rathbones Group PLC now owns 16,087 shares of the asset manager’s stock valued at $10,400,000 after buying an additional 2,286 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $807.29, for a total value of $25,008,229.62. Following the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now owns 383,168 shares in the company, valued at $309,327,694.72. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

BlackRock Stock Up 1.5 %

BLK stock opened at $781.08 on Tuesday. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a market capitalization of $116.07 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.59 and a beta of 1.34. The firm’s 50-day moving average is $775.55 and its two-hundred day moving average is $790.91. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.35.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. BlackRock had a net margin of 32.26% and a return on equity of 15.24%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm earned $7.93 EPS. BlackRock’s revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that BlackRock, Inc. will post 41.25 earnings per share for the current fiscal year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Friday, June 7th will be issued a $5.10 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.61%. BlackRock’s payout ratio is currently 51.84%.

Analyst Ratings Changes

BLK has been the subject of several research reports. Morgan Stanley lifted their price target on shares of BlackRock from $1,013.00 to $1,025.00 and gave the company an “overweight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their price target on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. UBS Group boosted their target price on shares of BlackRock from $818.00 to $850.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 target price (up from $918.00) on shares of BlackRock in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $845.42.

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.