Good Life Advisors LLC Sells 37 Shares of BlackRock, Inc. (NYSE:BLK)

Good Life Advisors LLC decreased its position in shares of BlackRock, Inc. (NYSE:BLK) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 526 shares of the asset manager’s stock after selling 37 shares during the period. Good Life Advisors LLC’s holdings in BlackRock were worth $427,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Tower Group LLC bought a new stake in BlackRock during the 2nd quarter worth approximately $27,000. Tyler Stone Wealth Management bought a new stake in shares of BlackRock during the second quarter valued at approximately $33,000. Exchange Traded Concepts LLC raised its position in shares of BlackRock by 671.4% during the third quarter. Exchange Traded Concepts LLC now owns 54 shares of the asset manager’s stock valued at $35,000 after buying an additional 47 shares during the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of BlackRock during the fourth quarter valued at approximately $40,000. Finally, Selway Asset Management bought a new stake in shares of BlackRock during the third quarter valued at approximately $41,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

BLK has been the topic of several recent analyst reports. BNP Paribas upgraded shares of BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a research report on Tuesday, December 12th. The Goldman Sachs Group lifted their price objective on shares of BlackRock from $719.00 to $793.00 and gave the company a “buy” rating in a research report on Thursday, November 30th. UBS Group raised their target price on shares of BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. TD Cowen raised shares of BlackRock from a “market perform” rating to an “outperform” rating and raised their target price for the company from $819.00 to $938.00 in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. lowered shares of 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. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $785.73.

BlackRock Stock Down 0.3 %

NYSE BLK opened at $832.59 on Friday. The firm has a market capitalization of $124.01 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.80 and a beta of 1.37. BlackRock, Inc. has a 52 week low of $596.18 and a 52 week high of $845.00. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $805.17 and a two-hundred day moving average of $742.68.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $0.82. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.65 billion. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $8.93 earnings per share. On average, analysts predict that BlackRock, Inc. will post 39.81 earnings per share for the current year.

BlackRock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th were paid a dividend of $5.10 per share. This is a positive change from BlackRock’s previous quarterly dividend of $5.00. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Wednesday, March 6th. BlackRock’s payout ratio is currently 55.88%.

Insider Activity

In other news, General Counsel Christopher J. Meade sold 18,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the sale, the general counsel now directly owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Stephen Cohen sold 950 shares of BlackRock 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Christopher J. Meade sold 18,000 shares of BlackRock stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total value of $5,085,660.60. Following the completion of the sale, the general counsel now owns 11,914 shares of the company’s stock, valued at $3,366,142.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,511 shares of company stock valued at $71,864,028. 0.96% of the stock is currently owned by company insiders.

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.