Canvas Wealth Advisors LLC Purchases Shares of 224 BlackRock, Inc. (NYSE:BLK)

Canvas Wealth Advisors LLC acquired a new position in BlackRock, Inc. (NYSE:BLK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 224 shares of the asset manager’s stock, valued at approximately $230,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Angeles Wealth Management LLC bought a new stake in BlackRock during the fourth quarter valued at $841,000. Liberty Capital Management Inc. acquired a new stake in BlackRock during the fourth quarter worth approximately $2,382,000. Activest Wealth Management lifted its stake in BlackRock by 87.1% in the fourth quarter. Activest Wealth Management now owns 131 shares of the asset manager’s stock valued at $135,000 after buying an additional 61 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of BlackRock during the 4th quarter worth approximately $694,000. Finally, 17 Capital Partners LLC bought a new stake in shares of BlackRock in the 4th quarter valued at $244,000. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

NYSE BLK opened at $991.95 on Monday. The company has a market capitalization of $153.63 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.23 and a current ratio of 5.23. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,084.22. The company has a 50-day simple moving average of $1,024.93 and a 200 day simple moving average of $968.98.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, beating the consensus estimate of $11.52 by $0.41. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.66 earnings per share. On average, research analysts predict that BlackRock, Inc. will post 47.44 EPS for the current year.

BlackRock Increases Dividend

The firm also recently disclosed 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 is Friday, March 7th. This is an increase from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 annualized dividend and a yield of 2.10%. BlackRock’s dividend payout ratio is 48.57%.

Analysts Set New Price Targets

A number of research firms have commented on BLK. UBS Group raised their price target on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on BlackRock from $914.00 to $971.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Morgan Stanley boosted their price target on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Barclays reduced their price objective on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,120.67.

Insider Transactions at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $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 is available through this hyperlink. Also, Director J. Richard Kushel sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 68,433 shares in the company, valued at approximately $73,403,973.12. This represents a 12.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,190 shares of company stock worth $115,163,141 over the last quarter. Corporate insiders own 0.90% of the company’s stock.

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.