Crescent Grove Advisors LLC Has $394,000 Stock Position in BlackRock, Inc. (NYSE:BLK)

Crescent Grove Advisors LLC grew its position in BlackRock, Inc. (NYSE:BLK) by 28.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 384 shares of the asset manager’s stock after buying an additional 84 shares during the period. Crescent Grove Advisors LLC’s holdings in BlackRock were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. increased its stake in shares of BlackRock by 1.8% in the 4th quarter. Jamison Private Wealth Management Inc. now owns 5,560 shares of the asset manager’s stock valued at $5,700,000 after buying an additional 99 shares during the period. Blue Square Asset Management LLC acquired a new stake in shares of BlackRock during the fourth quarter worth $3,243,000. First Citizens Bank & Trust Co. grew its stake in shares of BlackRock by 2.4% during the fourth quarter. First Citizens Bank & Trust Co. now owns 3,532 shares of the asset manager’s stock worth $3,621,000 after purchasing an additional 82 shares during the period. Precedent Wealth Partners LLC acquired a new stake in shares of BlackRock during the fourth quarter worth $1,511,000. Finally, Flagship Harbor Advisors LLC grew its stake in shares of BlackRock by 37.1% during the fourth quarter. Flagship Harbor Advisors LLC now owns 1,257 shares of the asset manager’s stock worth $1,288,000 after purchasing an additional 340 shares during the period. 80.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director J. Richard Kushel sold 10,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $1,010.00, for a total transaction of $10,100,000.00. Following the sale, the director now owns 68,433 shares of the company’s stock, valued at $69,117,330. This represents a 12.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Robert L. Goldstein sold 54,000 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 41,916 shares of the company’s stock, valued at $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. Insiders have sold a total of 100,190 shares of company stock valued at $104,436,741 over the last 90 days. 0.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

BLK has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on BlackRock from $914.00 to $971.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods decreased their price objective on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their price objective on BlackRock from $1,261.00 to $1,275.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, UBS Group lifted their target price on BlackRock from $1,017.00 to $1,045.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock has a consensus rating of “Moderate Buy” and a consensus price target of $1,120.67.

BlackRock Stock Performance

Shares of BlackRock stock opened at $1,020.19 on Monday. The firm has a market cap of $158.01 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The stock’s 50-day moving average is $1,024.23 and its 200-day moving average is $954.96. BlackRock, Inc. has a one year low of $745.55 and a one year high of $1,082.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.23 and a quick ratio of 5.23.

BlackRock (NYSE:BLK) last released its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 16.32% and a net margin of 31.21%. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the company posted $9.66 earnings per share. BlackRock’s revenue was up 22.6% on a year-over-year basis. Equities analysts predict that BlackRock, Inc. will post 47.43 earnings per share for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th were given a dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is presently 48.57%.

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.