BlackRock, Inc. (NYSE:BLK) Shares Bought by Waterway Wealth Management LLC

Waterway Wealth Management LLC lifted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,012 shares of the asset manager’s stock after purchasing an additional 63 shares during the quarter. BlackRock comprises about 0.5% of Waterway Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position. Waterway Wealth Management LLC’s holdings in BlackRock were worth $1,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FSA Wealth Management LLC acquired a new stake in BlackRock in the 3rd quarter worth about $26,000. Collier Financial acquired a new position in shares of BlackRock during the 4th quarter valued at about $32,000. Compass Planning Associates Inc purchased a new position in shares of BlackRock during the 4th quarter worth about $33,000. Atwood & Palmer Inc. acquired a new stake in shares of BlackRock in the fourth quarter worth approximately $36,000. Finally, Reston Wealth Management LLC acquired a new position in BlackRock during the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BLK. Wells Fargo & Company lifted their price target on shares of BlackRock from $1,155.00 to $1,175.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. StockNews.com began coverage on BlackRock in a report on Tuesday. They issued a “hold” rating on the stock. UBS Group upped their price target on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lifted 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. Finally, Barclays decreased their target price on 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,120.67.

Insider Activity

In other BlackRock news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the transaction, the director now directly owns 68,433 shares in the company, valued at $69,117,330. This represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $6,777,432. This represents a 84.81 % 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 ninety days. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $944.49 on Friday. The company has a market cap of $146.28 billion, a P/E ratio of 22.49, a PEG ratio of 1.90 and a beta of 1.28. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,084.22. The business’s 50-day simple moving average is $1,004.72 and its 200 day simple moving average is $979.94. 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 (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 EPS for the quarter, topping analysts’ consensus estimates of $11.52 by $0.41. The business 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 for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company posted $9.66 earnings per share. On average, sell-side analysts forecast that BlackRock, Inc. will post 47.41 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Friday, March 7th will be given a $5.21 dividend. This is a boost from BlackRock’s previous quarterly dividend of $5.10. This represents a $20.84 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, March 7th. BlackRock’s dividend payout ratio is presently 49.62%.

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.