New Potomac Partners LLC Sells 329 Shares of BlackRock, Inc. (NYSE:BLK)

New Potomac Partners LLC reduced its holdings in BlackRock, Inc. (NYSE:BLKFree Report) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,218 shares of the asset manager’s stock after selling 329 shares during the quarter. BlackRock comprises 2.0% of New Potomac Partners LLC’s holdings, making the stock its 14th largest holding. New Potomac Partners LLC’s holdings in BlackRock were worth $3,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in BlackRock by 1.9% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,101 shares of the asset manager’s stock worth $712,000 after purchasing an additional 21 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in BlackRock by 47,042.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 33,000 shares of the asset manager’s stock worth $22,808,000 after purchasing an additional 32,930 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its position in BlackRock by 8.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 764 shares of the asset manager’s stock worth $620,000 after purchasing an additional 60 shares during the last quarter. Sara Bay Financial purchased a new position in BlackRock in the fourth quarter worth $387,000. Finally, Aspen Grove Capital LLC purchased a new position in BlackRock in the second quarter worth $208,000. Institutional investors own 80.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen raised BlackRock from a “market perform” rating to an “outperform” rating and upped their price target for the company from $819.00 to $938.00 in a research report on Tuesday, January 16th. UBS Group upped their price target on BlackRock from $720.00 to $818.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. lowered BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 price objective on the stock. in a research note on Friday, December 15th. Finally, BNP Paribas upgraded BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a research note on Tuesday, December 12th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $785.73.

Check Out Our Latest Stock Report on BLK

BlackRock Price Performance

Shares of BlackRock stock opened at $833.70 on Friday. 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 firm has a market capitalization of $124.17 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The business’s 50-day moving average price is $806.48 and its 200-day moving average price is $744.26. BlackRock, Inc. has a 12 month low of $596.18 and a 12 month high of $845.00.

BlackRock (NYSE:BLKGet Free Report) last issued its earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, beating the consensus estimate of $8.84 by $0.82. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. BlackRock’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $8.93 EPS. Sell-side analysts forecast that BlackRock, Inc. will post 39.81 EPS for the current fiscal year.

BlackRock Increases Dividend

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

Insider Activity at BlackRock

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was 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 in the company, valued at approximately $3,366,142.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was 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 in the company, valued at approximately $3,366,142.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Laurence Fink sold 30,978 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $809.92, for a total value of $25,089,701.76. Following the completion of the sale, the chief executive officer now owns 414,146 shares of the company’s stock, valued at approximately $335,425,128.32. The disclosure for this sale can be found here. Insiders sold 100,511 shares of company stock worth $71,864,028 in the last ninety days. 0.96% of the stock is owned by company insiders.

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.

Read More

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.