Tolleson Wealth Management Inc. Purchases Shares of 255 BlackRock, Inc. (NYSE:BLK)

Tolleson Wealth Management Inc. acquired a new stake in shares of BlackRock, Inc. (NYSE:BLK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 255 shares of the asset manager's stock, valued at approximately $261,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in BlackRock during the fourth quarter valued at approximately $2,356,357,000. Proficio Capital Partners LLC increased its stake in shares of BlackRock by 138,682.5% during the 4th quarter. Proficio Capital Partners LLC now owns 634,236 shares of the asset manager's stock worth $634,000 after purchasing an additional 633,779 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of BlackRock during the 4th quarter valued at $572,730,000. Amundi acquired a new stake in shares of BlackRock in the 4th quarter valued at $528,792,000. Finally, Montrusco Bolton Investments Inc. bought a new stake in BlackRock in the fourth quarter worth $343,976,000. Institutional investors and hedge funds own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com assumed coverage on BlackRock in a report on Friday. They set a "hold" rating on the stock. Citigroup cut their price objective on BlackRock from $1,200.00 to $1,100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. TD Cowen lowered their price target on BlackRock from $1,251.00 to $1,032.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on shares of BlackRock from $1,065.00 to $1,035.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Bank of America decreased their price objective on shares of BlackRock from $1,196.00 to $1,178.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BlackRock currently has an average rating of "Moderate Buy" and a consensus price target of $1,077.08.

BlackRock Stock Performance

Shares of BlackRock stock traded up $4.58 during midday trading on Tuesday, hitting $998.24. The company had a trading volume of 536,698 shares, compared to its average volume of 692,129. The stock has a market cap of $154.65 billion, a PE ratio of 23.77, a P/E/G ratio of 1.90 and a beta of 1.41. BlackRock, Inc. has a 1-year low of $752.30 and a 1-year high of $1,084.22. The business's 50 day simple moving average is $919.68 and its two-hundred day simple moving average is $978.24. 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 - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The asset manager reported $11.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.84 by $0.46. BlackRock had a net margin of 31.21% and a return on equity of 16.32%. The company had revenue of $5.28 billion for the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter in the previous year, the firm posted $9.81 EPS. The business's revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that BlackRock, Inc. will post 47.41 EPS for the current fiscal year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Thursday, June 5th will be given a $5.21 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $20.84 dividend on an annualized basis and a dividend yield of 2.09%. BlackRock's dividend payout ratio is currently 50.63%.

Insider Transactions at BlackRock

In other news, Director J. Richard Kushel sold 430 shares of BlackRock stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $949.37, for a total transaction of $408,229.10. Following the sale, the director now directly owns 3,720 shares in the company, valued at approximately $3,531,656.40. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 12,430 shares of company stock valued at $11,237,249. 1.98% of the stock is owned by corporate insiders.

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.