Triangle Securities Wealth Management Sells 29 Shares of BlackRock, Inc. (NYSE:BLK)

Triangle Securities Wealth Management cut its stake in shares of BlackRock, Inc. (NYSE:BLK – Get Rating) by 7.8% during the 4th quarter, HoldingsChannel reports. The firm owned 344 shares of the asset manager’s stock after selling 29 shares during the period. Triangle Securities Wealth Management’s holdings in BlackRock were worth $244,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BLK. Wagner Wealth Management LLC bought a new stake in shares of BlackRock during the 2nd quarter valued at approximately $25,000. Salem Investment Counselors Inc. grew its holdings in shares of BlackRock by 275.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 45 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 33 shares during the last quarter. Penserra Capital Management LLC grew its holdings in BlackRock by 78.6% during the 3rd quarter. Penserra Capital Management LLC now owns 50 shares of the asset manager’s stock worth $27,000 after acquiring an additional 22 shares during the last quarter. Align Wealth Management LLC bought a new stake in BlackRock during the 4th quarter worth approximately $28,000. Finally, Twin Tree Management LP bought a new stake in BlackRock during the 3rd quarter worth approximately $29,000. 77.69% of the stock is owned by institutional investors.

BlackRock Stock Down 0.0 %

BlackRock stock opened at $636.71 on Friday. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.33. BlackRock, Inc. has a 12-month low of $503.12 and a 12-month high of $788.65. The firm’s fifty day moving average is $714.75 and its 200 day moving average is $680.87. The company has a market capitalization of $95.66 billion, a PE ratio of 18.75, a PEG ratio of 2.12 and a beta of 1.28.

BlackRock (NYSE:BLK – Get Rating) last released its earnings results on Friday, January 13th. The asset manager reported $8.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.99 by $0.94. BlackRock had a net margin of 28.97% and a return on equity of 14.38%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.16 billion. As a group, sell-side analysts predict that BlackRock, Inc. will post 34.84 EPS for the current fiscal year.

BlackRock Increases Dividend

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

Insider Activity at BlackRock

In related news, Director Stephen Cohen sold 390 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $756.26, for a total transaction of $294,941.40. Following the transaction, the director now owns 4,357 shares in the company, valued at approximately $3,295,024.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BlackRock news, Director Stephen Cohen sold 390 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $756.26, for a total transaction of $294,941.40. Following the transaction, the director now owns 4,357 shares in the company, valued at $3,295,024.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 1,075 shares of the company’s stock in a transaction on Wednesday, January 18th. The stock was sold at an average price of $749.89, for a total transaction of $806,131.75. Following the transaction, the director now owns 8,682 shares in the company, valued at approximately $6,510,544.98. The disclosure for this sale can be found here. Insiders have sold 4,839 shares of company stock worth $3,578,947 in the last quarter. Company insiders own 1.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BLK shares. Credit Suisse Group boosted their target price on shares of BlackRock from $540.00 to $680.00 and gave the stock a “neutral” rating in a report on Thursday, January 12th. The Goldman Sachs Group boosted their target price on shares of BlackRock from $741.00 to $825.00 and gave the stock a “buy” rating in a report on Wednesday, January 4th. StockNews.com started coverage on shares of BlackRock in a report on Thursday. They set a “hold” rating on the stock. Morgan Stanley boosted their target price on shares of BlackRock from $785.00 to $828.00 and gave the stock an “overweight” rating in a report on Tuesday, January 17th. Finally, Wells Fargo & Company assumed coverage on shares of BlackRock in a research note on Wednesday, December 14th. They issued an “overweight” rating and a $820.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $740.92.

About BlackRock

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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.