Raleigh Capital Management Inc. Has $890,000 Position in BlackRock, Inc. (NYSE:BLK)

Raleigh Capital Management Inc. cut its position in BlackRock, Inc. (NYSE:BLK) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 869 shares of the asset manager’s stock after selling 44 shares during the period. Raleigh Capital Management Inc.’s holdings in BlackRock were worth $890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BLK. AE Wealth Management LLC raised its position in shares of BlackRock by 19.9% during the second quarter. AE Wealth Management LLC now owns 1,162 shares of the asset manager’s stock worth $915,000 after purchasing an additional 193 shares during the period. Frank Rimerman Advisors LLC lifted its stake in BlackRock by 6,300.0% in the second quarter. Frank Rimerman Advisors LLC now owns 576 shares of the asset manager’s stock valued at $453,000 after buying an additional 567 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of BlackRock by 5.2% in the second quarter. EverSource Wealth Advisors LLC now owns 482 shares of the asset manager’s stock valued at $379,000 after buying an additional 24 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of BlackRock by 60.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,527 shares of the asset manager’s stock worth $22,460,000 after acquiring an additional 10,706 shares during the period. Finally, Sfmg LLC lifted its position in BlackRock by 2.1% in the 2nd quarter. Sfmg LLC now owns 4,964 shares of the asset manager’s stock valued at $3,908,000 after acquiring an additional 101 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

BlackRock Trading Down 0.5 %

Shares of BlackRock stock opened at $1,006.61 on Thursday. BlackRock, Inc. has a 52-week low of $745.55 and a 52-week high of $1,082.45. The stock has a market cap of $155.90 billion, a PE ratio of 23.97, a PEG ratio of 1.83 and a beta of 1.28. The firm has a 50-day moving average of $1,025.37 and a 200-day moving average of $951.85. 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 issued its quarterly 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 company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.57 billion. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. BlackRock’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the business earned $9.66 earnings per share. As a group, sell-side analysts forecast that BlackRock, Inc. will post 47.43 EPS for the current year.

BlackRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a $5.10 dividend. The ex-dividend date was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. BlackRock’s dividend payout ratio is currently 48.57%.

Insider Activity at BlackRock

In other BlackRock news, Director Mark Wiedman sold 36,190 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 6,480 shares in the company, valued at approximately $6,777,432. This trade represents a 84.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $1,046.03, for a total value of $56,485,620.00. Following the completion of the sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at approximately $43,845,393.48. The trade was a 56.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on BlackRock from $1,215.00 to $1,275.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods cut their target price on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Barclays decreased their price target on shares of BlackRock from $1,220.00 to $1,160.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. UBS Group boosted their price objective on shares of BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, StockNews.com initiated coverage on shares of BlackRock in a research report on Thursday, January 16th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, BlackRock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

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.