BlackRock, Inc. (NYSE:BLK) Shares Purchased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lifted its position in BlackRock, Inc. (NYSE:BLK – Get Rating) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,816 shares of the asset manager’s stock after acquiring an additional 471 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in BlackRock were worth $2,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BLK. Vanguard Group Inc. boosted its stake in BlackRock by 3.4% during the third quarter. Vanguard Group Inc. now owns 13,492,083 shares of the asset manager’s stock worth $7,424,424,000 after buying an additional 444,552 shares during the last quarter. BlackRock Inc. boosted its stake in BlackRock by 1.8% during the third quarter. BlackRock Inc. now owns 9,696,425 shares of the asset manager’s stock worth $5,335,747,000 after buying an additional 174,789 shares during the last quarter. State Street Corp boosted its stake in BlackRock by 4.3% during the third quarter. State Street Corp now owns 6,319,438 shares of the asset manager’s stock worth $3,477,460,000 after buying an additional 259,896 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BlackRock by 15.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,326,618 shares of the asset manager’s stock worth $1,777,933,000 after buying an additional 310,256 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in BlackRock by 1.6% during the second quarter. Northern Trust Corp now owns 1,945,360 shares of the asset manager’s stock worth $1,184,803,000 after buying an additional 30,163 shares during the last quarter. 77.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BLK shares. Credit Suisse Group boosted their price objective on BlackRock from $540.00 to $680.00 and gave the stock a “neutral” rating in a research note on Thursday, January 12th. Bank of America reduced their target price on BlackRock from $821.00 to $813.00 in a research report on Sunday, January 15th. The Goldman Sachs Group lifted their target price on BlackRock from $741.00 to $825.00 and gave the company a “buy” rating in a research report on Wednesday, January 4th. StockNews.com assumed coverage on BlackRock in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Morgan Stanley lifted their target price on BlackRock from $785.00 to $828.00 and gave the company an “overweight” rating in a research report on Tuesday, January 17th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $740.92.

Insiders Place Their Bets

In other BlackRock news, Director J. Richard Kushel sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $742.31, for a total transaction of $742,310.00. Following the sale, the director now owns 74,307 shares in the company, valued at approximately $55,158,829.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director J. Richard Kushel sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $742.31, for a total transaction of $742,310.00. Following the completion of the transaction, the director now directly owns 74,307 shares of the company’s stock, valued at approximately $55,158,829.17. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen Cohen sold 1,149 shares of the company’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $753.46, for a total value of $865,725.54. Following the transaction, the director now directly owns 4,135 shares of the company’s stock, valued at $3,115,557.10. The disclosure for this sale can be found here. Insiders have sold a total of 4,839 shares of company stock worth $3,578,947 in the last quarter. 1.06% of the stock is owned by company insiders.

BlackRock Price Performance

Shares of NYSE BLK opened at $636.71 on Friday. The stock’s 50-day moving average is $714.75 and its two-hundred day moving average is $680.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.99 and a quick ratio of 2.99. BlackRock, Inc. has a 1-year low of $503.12 and a 1-year high of $788.65. The company has a market cap of $95.66 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28.

BlackRock (NYSE:BLK – Get Rating) last issued its quarterly earnings results on Friday, January 13th. The asset manager reported $8.93 earnings per share for the quarter, topping the consensus estimate of $7.99 by $0.94. BlackRock had a return on equity of 14.38% and a net margin of 28.97%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.16 billion. Analysts forecast that BlackRock, Inc. will post 34.84 EPS for the current fiscal year.

BlackRock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Tuesday, March 7th will be issued a dividend of $5.00 per share. This is an increase from BlackRock’s previous quarterly dividend of $4.88. The ex-dividend date is Monday, March 6th. This represents a $20.00 annualized dividend and a yield of 3.14%. BlackRock’s dividend payout ratio is 58.91%.

BlackRock Company Profile

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BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Susan L.