McAdam LLC Makes New $237,000 Investment in BlackRock, Inc. (NYSE:BLK)

McAdam LLC acquired a new position in shares of BlackRock, Inc. (NYSE:BLK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 231 shares of the asset manager’s stock, valued at approximately $237,000.

Several other large investors have also recently bought and sold shares of the company. Marino Stram & Associates LLC lifted its holdings in BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares in the last quarter. Fidelity D & D Bancorp Inc. lifted its holdings in BlackRock by 3.7% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 277 shares of the asset manager’s stock worth $263,000 after buying an additional 10 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its holdings in BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after buying an additional 11 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of BlackRock by 0.3% in the 3rd quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after purchasing an additional 11 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of BlackRock by 0.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insider Activity

In other news, Director J. Richard Kushel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total value of $10,100,000.00. Following the completion of the transaction, the director now owns 68,433 shares in the company, valued at $69,117,330. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the firm’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 completion of the transaction, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $43,845,393.48. The trade was a 56.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,190 shares of company stock worth $115,163,141 in the last quarter. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BLK. Barclays cut their price target on 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. Keefe, Bruyette & Woods cut their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. StockNews.com began coverage on BlackRock in a research note on Saturday. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley upped their price objective on shares of BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

BlackRock Price Performance

BLK stock opened at $1,014.90 on Tuesday. The stock has a 50-day moving average price of $1,026.43 and a two-hundred day moving average price of $963.86. The stock has a market cap of $157.19 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. The company has a current ratio of 5.23, a quick ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 1 year low of $745.55 and a 1 year 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 firm had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The company’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.66 EPS. Equities analysts forecast that BlackRock, Inc. will post 47.45 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, March 7th will be issued a $5.21 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.05%. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

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.