Dumont & Blake Investment Advisors LLC Sells 86 Shares of BlackRock, Inc. (NYSE:BLK)

Dumont & Blake Investment Advisors LLC lessened its holdings in shares of BlackRock, Inc. (NYSE:BLKFree Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,612 shares of the asset manager’s stock after selling 86 shares during the quarter. BlackRock makes up 0.9% of Dumont & Blake Investment Advisors LLC’s portfolio, making the stock its 21st biggest position. Dumont & Blake Investment Advisors LLC’s holdings in BlackRock were worth $2,932,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. West Tower Group LLC bought a new position in shares of BlackRock during the second quarter valued at $27,000. LFA Lugano Financial Advisors SA boosted its position in shares of BlackRock by 208.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after buying an additional 25 shares during the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of BlackRock during the second quarter valued at $33,000. Exchange Traded Concepts LLC boosted its position in shares of BlackRock by 671.4% during the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares during the last quarter. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at $40,000. Institutional investors own 80.69% of the company’s stock.

BlackRock Trading Down 0.1 %

BLK traded down $0.70 during trading hours on Wednesday, reaching $815.89. 178,083 shares of the company’s stock traded hands, compared to its average volume of 588,767. The firm has a 50-day moving average price of $807.63 and a 200 day moving average price of $746.60. BlackRock, Inc. has a 52-week low of $596.18 and a 52-week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $121.52 billion, a PE ratio of 22.50, a PEG ratio of 1.80 and a beta of 1.37.

BlackRock (NYSE:BLKGet Free Report) last issued its earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, topping the consensus estimate of $8.84 by $0.82. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the business earned $8.93 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that BlackRock, Inc. will post 40.23 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were issued a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 2.50%. This is a boost from BlackRock’s previous quarterly dividend of $5.00. The ex-dividend date of this dividend was Wednesday, March 6th. BlackRock’s dividend payout ratio is currently 55.88%.

Insiders Place Their Bets

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now directly owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the sale, the general counsel now directly owns 11,914 shares in the company, valued at approximately $3,366,142.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc D. Comerchero sold 450 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the sale, the insider now owns 5,975 shares of the company’s stock, valued at $4,691,032.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,511 shares of company stock worth $71,864,028. 1.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BNP Paribas raised BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a research report on Tuesday, December 12th. UBS Group raised their target price on BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. lifted their target price on BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $819.00 to $938.00 in a research note on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $789.67.

Check Out Our Latest Analysis on BlackRock

About BlackRock

(Free Report)

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.

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Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

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