Keyvantage Wealth LLC Acquires Shares of 467 BlackRock, Inc. (NYSE:BLK)

Keyvantage Wealth LLC acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 467 shares of the asset manager's stock, valued at approximately $479,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its stake in BlackRock by 159.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 2,238 shares of the asset manager's stock worth $2,294,000 after purchasing an additional 1,375 shares in the last quarter. Burling Wealth Partners LLC acquired a new stake in shares of BlackRock in the 4th quarter valued at $639,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of BlackRock by 8.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 131,980 shares of the asset manager's stock valued at $135,294,000 after acquiring an additional 10,700 shares during the last quarter. Tenere Capital LLC lifted its position in BlackRock by 50.0% during the 4th quarter. Tenere Capital LLC now owns 22,786 shares of the asset manager's stock worth $23,358,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Brasada Capital Management LP increased its holdings in shares of BlackRock by 1.8% during the 4th quarter. Brasada Capital Management LP now owns 1,129 shares of the asset manager's stock worth $1,078,000 after purchasing an additional 20 shares during the period. Institutional investors own 80.69% of the company's stock.

Insider Buying and Selling at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $949.37, for a total value of $408,229.10. Following the completion of the transaction, the director now owns 3,720 shares in the company, valued at $3,531,656.40. The trade was a 10.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 12,430 shares of company stock valued at $12,838,649. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America lowered their target price on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. lowered their target price on shares of BlackRock from $1,046.00 to $988.00 and set a "neutral" rating for the company in a report on Monday, April 14th. StockNews.com assumed coverage on BlackRock in a research note on Tuesday, April 22nd. They issued a "hold" rating for the company. Keefe, Bruyette & Woods reduced their target price on shares of 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. Finally, Barclays lifted their target price on BlackRock from $950.00 to $990.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, BlackRock currently has a consensus rating of "Moderate Buy" and an average target price of $1,077.08.

BlackRock Stock Performance

BLK traded up $4.40 on Monday, hitting $912.09. The company's stock had a trading volume of 227,016 shares, compared to its average volume of 683,422. The company has a quick ratio of 5.23, a current ratio of 5.23 and a debt-to-equity ratio of 0.45. BlackRock, Inc. has a 12 month low of $748.78 and a 12 month high of $1,084.22. The firm has a market cap of $141.60 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.90 and a beta of 1.38. The company's 50 day simple moving average is $922.02 and its 200-day simple moving average is $983.87.

BlackRock (NYSE:BLK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The asset manager reported $11.30 EPS for the quarter, beating analysts' consensus estimates of $10.84 by $0.46. The business had revenue of $5.28 billion for the quarter, compared to analysts' expectations of $5.47 billion. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $9.81 earnings per share. Analysts forecast that BlackRock, Inc. will post 47.41 EPS for the current year.

BlackRock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Friday, March 7th were given a $5.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $20.84 annualized dividend and a dividend yield of 2.28%. This is a positive change from BlackRock's previous quarterly dividend of $5.10. BlackRock's dividend payout ratio is currently 50.63%.

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.