Raymond James Financial Services Advisors Inc. Purchases 1,765 Shares of BlackRock, Inc. (NYSE:BLK)

Raymond James Financial Services Advisors Inc. lifted its position in BlackRock, Inc. (NYSE:BLKFree Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,343 shares of the asset manager’s stock after buying an additional 1,765 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.06% of BlackRock worth $70,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairfield Bush & CO. bought a new position in BlackRock during the first quarter worth $115,000. United Bank boosted its position in BlackRock by 17.1% during the first quarter. United Bank now owns 1,287 shares of the asset manager’s stock worth $983,000 after purchasing an additional 188 shares during the period. Panagora Asset Management Inc. boosted its position in BlackRock by 2.6% during the first quarter. Panagora Asset Management Inc. now owns 1,978 shares of the asset manager’s stock worth $1,512,000 after purchasing an additional 51 shares during the period. Sequoia Financial Advisors LLC boosted its position in BlackRock by 35.4% during the first quarter. Sequoia Financial Advisors LLC now owns 1,025 shares of the asset manager’s stock worth $783,000 after purchasing an additional 268 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of BlackRock by 11.7% during the first quarter. Brown Brothers Harriman & Co. now owns 1,452 shares of the asset manager’s stock worth $1,110,000 after buying an additional 152 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Transactions at BlackRock

In other news, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Marc D. Comerchero sold 450 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total transaction of $353,299.50. Following the sale, the insider now directly owns 5,975 shares in the company, valued at $4,691,032.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen Cohen sold 950 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total value of $765,272.50. Following the sale, the director now owns 4,437 shares in the company, valued at $3,574,225.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,511 shares of company stock worth $71,864,028. Insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BLK shares. UBS Group lifted their target price on BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $819.00 to $938.00 in a report on Tuesday, January 16th. JPMorgan Chase & Co. downgraded BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price for the company. in a report on Friday, December 15th. BNP Paribas raised BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 target price for the company in a report on Tuesday, December 12th. Finally, The Goldman Sachs Group boosted their price target on BlackRock from $719.00 to $793.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, BlackRock presently has a consensus rating of “Moderate Buy” and a consensus target price of $785.73.

Get Our Latest Stock Report on BlackRock

BlackRock Stock Down 1.0 %

Shares of NYSE BLK opened at $816.35 on Tuesday. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.32. The company has a market cap of $121.59 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.82 and a beta of 1.37. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00. The stock has a 50-day moving average price of $803.29 and a two-hundred day moving average price of $740.23.

BlackRock (NYSE:BLKGet Free Report) last issued its earnings results on Friday, January 12th. The asset manager reported $9.66 EPS for the quarter, topping the consensus estimate of $8.84 by $0.82. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.93 earnings per share. As a group, analysts forecast that BlackRock, Inc. will post 39.73 earnings per share for the current fiscal year.

BlackRock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Thursday, March 7th were paid a dividend of $5.10 per share. This is an increase from BlackRock’s previous quarterly dividend of $5.00. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $20.40 annualized dividend and a yield of 2.50%. BlackRock’s payout ratio is presently 55.88%.

BlackRock Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BLK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock, Inc. (NYSE:BLKFree Report).

Institutional Ownership by Quarter for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.