McGlone Suttner Wealth Management Inc. Purchases 60 Shares of BlackRock, Inc. (NYSE:BLK)

McGlone Suttner Wealth Management Inc. boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 764 shares of the asset manager’s stock after acquiring an additional 60 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in BlackRock were worth $620,000 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. Clear Harbor Asset Management LLC grew its holdings in shares of BlackRock by 1.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 8,968 shares of the asset manager’s stock worth $7,280,000 after purchasing an additional 153 shares during the last quarter. Values Added Financial LLC acquired a new stake in shares of BlackRock during the 4th quarter worth approximately $249,000. Strong Tower Advisory Services grew its stake in BlackRock by 2.2% in the 4th quarter. Strong Tower Advisory Services now owns 1,840 shares of the asset manager’s stock valued at $1,494,000 after acquiring an additional 39 shares during the period. Everett Harris & Co. CA grew its stake in BlackRock by 8.1% in the 4th quarter. Everett Harris & Co. CA now owns 3,546 shares of the asset manager’s stock valued at $2,879,000 after acquiring an additional 266 shares during the period. Finally, FLC Capital Advisors purchased a new position in BlackRock in the 4th quarter valued at $216,000. Institutional investors own 80.69% of the company’s stock.

Insider Transactions at BlackRock

In other news, insider Marc D. Comerchero sold 450 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $785.11, for a total value of $353,299.50. Following the transaction, the insider now directly owns 5,975 shares in the company, valued at approximately $4,691,032.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Laurence Fink sold 30,978 shares of the stock in a transaction dated 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 in the company, valued at $335,425,128.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marc D. Comerchero sold 450 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $785.11, for a total value of $353,299.50. Following the completion of the sale, the insider now owns 5,975 shares of the company’s stock, valued at approximately $4,691,032.25. The disclosure for this sale can be found here. Insiders have sold a total of 100,511 shares of company stock worth $71,864,028 in the last three months. 0.96% of the stock is currently owned by company insiders.

BlackRock Trading Down 0.3 %

NYSE BLK traded down $2.53 during trading hours on Thursday, hitting $832.59. 531,855 shares of the company’s stock were exchanged, compared to its average volume of 599,850. The business’s 50 day moving average is $805.17 and its 200-day moving average is $742.68. BlackRock, Inc. has a 12-month low of $596.18 and a 12-month high of $845.00. The firm has a market capitalization of $124.01 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.80 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

BlackRock (NYSE:BLK) last released its earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, topping the consensus estimate of $8.84 by $0.82. BlackRock had a return on equity of 14.74% and a net margin of 30.81%. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the business posted $8.93 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that BlackRock, Inc. will post 39.81 EPS for the current fiscal year.

BlackRock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Thursday, March 7th were issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.45%. This is an increase from BlackRock’s previous quarterly dividend of $5.00. The ex-dividend date was Wednesday, March 6th. BlackRock’s dividend payout ratio (DPR) is 55.88%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BLK. UBS Group lifted their price target on BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. cut BlackRock from an “overweight” rating to a “neutral” rating and set a $708.00 target price for the company. in a research note on Friday, December 15th. TD Cowen upgraded BlackRock from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $819.00 to $938.00 in a research note on Tuesday, January 16th. The Goldman Sachs Group upped their price target on BlackRock from $719.00 to $793.00 and gave the stock a “buy” rating in a research note on Thursday, November 30th. Finally, BNP Paribas raised BlackRock from a “neutral” rating to an “outperform” rating and set a $885.00 price objective on the stock in a report 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. Based on data from MarketBeat.com, BlackRock currently has an average rating of “Moderate Buy” and a consensus price target of $785.73.

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.