B. Riley Wealth Advisors Inc. Sells 763 Shares of BlackRock, Inc. (NYSE:BLK)

B. Riley Wealth Advisors Inc. reduced its stake in shares of BlackRock, Inc. (NYSE:BLK) by 18.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,334 shares of the asset manager’s stock after selling 763 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in BlackRock were worth $2,707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tennessee Valley Asset Management Partners bought a new position in BlackRock in the fourth quarter valued at $27,000. Private Wealth Management Group LLC bought a new stake in BlackRock during the fourth quarter worth about $28,000. Pineridge Advisors LLC acquired a new position in BlackRock during the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA grew its stake in BlackRock by 208.3% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 37 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 25 shares in the last quarter. Finally, Northwest Financial Advisors bought a new stake in shares of BlackRock during the 4th quarter worth approximately $32,000. 80.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BLK shares. UBS Group boosted their target price on shares of BlackRock from $818.00 to $850.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. JPMorgan Chase & Co. raised their target price on shares of BlackRock from $742.00 to $767.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $930.00 price target (up previously from $918.00) on shares of BlackRock in a research report on Friday, April 5th. Finally, Morgan Stanley lifted their target price on BlackRock from $1,013.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $845.42.

Insider Buying and Selling at BlackRock

In other news, Director Mark Wiedman sold 9,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BlackRock news, Director Mark Wiedman sold 9,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $795.00, for a total value of $7,155,000.00. Following the completion of the sale, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 30,978 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total transaction of $25,008,229.62. Following the completion of the sale, the chief executive officer now directly owns 383,168 shares in the company, valued at approximately $309,327,694.72. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

BlackRock Stock Up 1.5 %

BLK opened at $781.08 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.32 and a current ratio of 5.32. BlackRock, Inc. has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The stock has a fifty day moving average of $775.55 and a 200-day moving average of $790.91. The company has a market capitalization of $116.07 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.59 and a beta of 1.34.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping analysts’ consensus estimates of $9.42 by $0.39. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. BlackRock’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $7.93 earnings per share. On average, equities analysts expect that BlackRock, Inc. will post 41.25 EPS for the current year.

BlackRock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Friday, June 7th will be given a dividend of $5.10 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.61%. BlackRock’s dividend payout ratio is currently 51.84%.

BlackRock Company 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.