Myriad Asset Management US LP Takes Position in BlackRock, Inc. (NYSE:BLK)

Myriad Asset Management US LP 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 2,106 shares of the asset manager’s stock, valued at approximately $2,159,000. BlackRock makes up 1.4% of Myriad Asset Management US LP’s holdings, making the stock its 18th biggest holding.

Several other large investors have also recently bought and sold shares of BLK. FSA Wealth Management LLC acquired a new stake in BlackRock during the 3rd quarter worth $26,000. Collier Financial bought a new position in BlackRock during the 4th quarter worth about $32,000. Atwood & Palmer Inc. bought a new position in BlackRock during the 4th quarter worth about $36,000. Reston Wealth Management LLC bought a new position in BlackRock during the 3rd quarter worth about $37,000. Finally, MFA Wealth Advisors LLC grew its holdings in shares of BlackRock by 100.0% in the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

BlackRock Trading Down 0.7 %

Shares of BLK stock opened at $973.22 on Friday. The firm has a 50 day moving average price of $1,020.68 and a two-hundred day moving average price of $972.03. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $150.73 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. BlackRock, Inc. has a 12-month low of $745.55 and a 12-month high of $1,084.22.

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 analysts’ consensus estimates of $11.52 by $0.41. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.57 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business earned $9.66 earnings per share. As a group, analysts predict that BlackRock, Inc. will post 47.44 earnings per share for the current year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Friday, March 7th will be paid a $5.21 dividend. This represents a $20.84 dividend on an annualized basis and a yield of 2.14%. This is a boost from BlackRock’s previous quarterly dividend of $5.10. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio (DPR) is 48.57%.

Insider Activity at BlackRock

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $1,046.03, for a total transaction of $56,485,620.00. Following the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 10,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $1,072.64, for a total transaction of $10,726,400.00. Following the sale, the director now directly owns 68,433 shares in the company, valued at approximately $73,403,973.12. The trade was a 12.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,190 shares of company stock valued at $115,163,141 over the last three months. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BLK. UBS Group raised their price objective on BlackRock from $1,017.00 to $1,045.00 and gave the company a “neutral” rating in a report on Tuesday, January 21st. Morgan Stanley raised their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup raised their price objective on BlackRock from $1,150.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods reduced their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three 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, the company has a consensus rating of “Moderate Buy” and an average price target of $1,120.67.

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.