Tidal Investments LLC Purchases 10,284 Shares of BlackRock, Inc. (NYSE:BLK)

Tidal Investments LLC boosted its position in BlackRock, Inc. (NYSE:BLK) by 55.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,958 shares of the asset manager’s stock after acquiring an additional 10,284 shares during the period. Tidal Investments LLC’s holdings in BlackRock were worth $27,496,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in BlackRock in the third quarter valued at about $26,000. Fairscale Capital LLC bought a new position in shares of BlackRock during the second quarter worth about $31,000. Reston Wealth Management LLC bought a new position in shares of BlackRock during the third quarter worth about $37,000. MFA Wealth Advisors LLC grew its stake in BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. Finally, Addison Advisors LLC boosted its stake in shares of BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares during the period. Institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In other BlackRock news, General Counsel Christopher J. Meade sold 18,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $1,045.83, for a total value of $18,824,940.00. Following the transaction, the general counsel now directly owns 8,628 shares in the company, valued at $9,023,421.24. This represents a 67.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Wiedman sold 36,190 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $1,045.90, for a total value of $37,851,121.00. Following the transaction, the director now owns 6,480 shares in the company, valued at approximately $6,777,432. The trade was a 84.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,190 shares of company stock valued at $113,161,681. Corporate insiders own 0.90% of the company’s stock.

BlackRock Stock Down 1.0 %

BlackRock stock traded down $11.04 during trading on Thursday, hitting $1,054.22. 105,604 shares of the company were exchanged, compared to its average volume of 585,191. The business’s 50 day moving average is $1,011.05 and its 200 day moving average is $901.89. BlackRock, Inc. has a 52 week low of $745.55 and a 52 week high of $1,082.45. The company has a market capitalization of $163.28 billion, a P/E ratio of 26.29, a PEG ratio of 1.88 and a beta of 1.28. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the firm earned $10.91 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Analysts predict that BlackRock, Inc. will post 43.18 earnings per share for the current year.

BlackRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be issued a dividend of $5.10 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 1.94%. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com assumed coverage on BlackRock in a report on Saturday, December 7th. They set a “hold” rating for the company. Evercore ISI lifted their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Morgan Stanley lifted their price objective on BlackRock from $1,150.00 to $1,245.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Barclays boosted their price target on BlackRock from $1,120.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,027.31.

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.