Sheets Smith Wealth Management Purchases Shares of 3,607 BlackRock, Inc. (NYSE:BLK)

Sheets Smith Wealth Management acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,607 shares of the asset manager’s stock, valued at approximately $3,697,000.

A number of other hedge funds have also bought and sold shares of the business. Oddo BHF Asset Management Sas bought a new stake in shares of BlackRock during the 3rd quarter worth $518,000. Erste Asset Management GmbH bought a new position in BlackRock during the 3rd quarter valued at about $32,904,000. Raymond James Trust N.A. lifted its stake in shares of BlackRock by 2.3% in the 3rd quarter. Raymond James Trust N.A. now owns 27,092 shares of the asset manager’s stock worth $25,724,000 after purchasing an additional 614 shares during the period. MML Investors Services LLC grew its holdings in BlackRock by 2.8% during the 3rd quarter. MML Investors Services LLC now owns 68,466 shares of the asset manager’s stock valued at $65,010,000 after buying an additional 1,852 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of BlackRock by 20.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the asset manager’s stock worth $3,169,000 after acquiring an additional 565 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,011.87 on Wednesday. The stock’s fifty day simple moving average is $1,026.34 and its 200 day simple moving average is $949.91. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $156.72 billion, a PE ratio of 24.09, a PEG ratio of 1.82 and a beta of 1.28. BlackRock, Inc. has a 12 month low of $745.55 and a 12 month high of $1,082.45.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, beating the consensus estimate of $11.52 by $0.41. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $9.66 EPS. On average, research analysts predict that BlackRock, Inc. will post 47.23 EPS for the current year.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.02%. BlackRock’s payout ratio is 48.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BLK shares. Wells Fargo & Company increased their price target on BlackRock from $1,155.00 to $1,175.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group increased their price target on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday. Citigroup upped their target price on BlackRock from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Morgan Stanley lifted 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 decreased their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and an average price target of $1,120.67.

Insider Buying and Selling at BlackRock

In related news, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were 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 $43,845,393.48. The trade was a 56.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total transaction of $37,851,121.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. This represents a 84.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

BlackRock Company 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.