Procyon Advisors LLC Purchases 356 Shares of BlackRock, Inc. (NYSE:BLK)

Procyon Advisors LLC grew its position in shares of BlackRock, Inc. (NYSE:BLK) by 88.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 758 shares of the asset manager’s stock after buying an additional 356 shares during the quarter. Procyon Advisors LLC’s holdings in BlackRock were worth $777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BLK. Edgestream Partners L.P. acquired a new position in BlackRock in the second quarter worth $383,000. Intech Investment Management LLC raised its holdings in shares of BlackRock by 21.2% in the second quarter. Intech Investment Management LLC now owns 8,028 shares of the asset manager’s stock valued at $6,321,000 after buying an additional 1,406 shares during the last quarter. Brighton Jones LLC lifted its position in BlackRock by 3.1% during the 2nd quarter. Brighton Jones LLC now owns 1,416 shares of the asset manager’s stock worth $1,115,000 after buying an additional 42 shares in the last quarter. Ieq Capital LLC grew its holdings in BlackRock by 5.0% during the 2nd quarter. Ieq Capital LLC now owns 10,459 shares of the asset manager’s stock worth $8,235,000 after acquiring an additional 500 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in BlackRock by 1.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 131,274 shares of the asset manager’s stock valued at $103,355,000 after acquiring an additional 2,453 shares in the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.

Insiders Place Their Bets

In other BlackRock news, COO Robert L. Goldstein sold 54,000 shares of BlackRock stock in a transaction dated 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. This trade represents a 56.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 36,190 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $6,777,432. This represents a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

BlackRock Trading Up 0.9 %

Shares of NYSE BLK opened at $1,004.23 on Friday. BlackRock, Inc. has a twelve month low of $745.55 and a twelve month high of $1,082.45. The stock has a market cap of $155.54 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 1.53 and a beta of 1.28. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average is $1,027.33 and its 200-day moving average is $946.18.

BlackRock (NYSE:BLK) last posted its earnings results on Wednesday, January 15th. The asset manager reported $11.93 earnings per share for the quarter, topping the consensus estimate of $11.52 by $0.41. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same period in the previous year, the company posted $9.66 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. Equities research analysts predict that BlackRock, Inc. will post 43.02 EPS for the current year.

BlackRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, December 5th were paid a dividend of $5.10 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 2.03%. BlackRock’s payout ratio is 50.35%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BLK. Barclays lowered 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 report on Monday, January 13th. StockNews.com initiated coverage on BlackRock in a research report on Thursday. They set a “hold” rating for the company. Keefe, Bruyette & Woods decreased their price target on BlackRock from $1,225.00 to $1,160.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on BlackRock from $1,215.00 to $1,275.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Evercore ISI lifted their price target on shares of BlackRock from $1,040.00 to $1,160.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,103.33.

BlackRock Profile

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.